City Developments' Sale of South Beach Stake Shows Commitment to Capital Recycling -- Market Talk

Dow Jones

06-05

0221 GMT - City Developments' proposed sale of its 50.1% stake in the South Beach asset should be a positive surprise for investors, Citi Research analyst Brandon Lee writes in a note. This is due to the property developer's slower-than-expected pace of divestments in 2024 and the iconic nature of South Beach, Lee says. The company appears to be fully committed to capital recycling--its key focus for this year. Besides unlocking significant value and delivering accretion to net asset value, Citi expects a higher pace of asset monetization. This could lead to lower net gearing and higher dividends, which are key share-price catalysts. Citi maintains the stock's buy rating and target price of S$9.51. Shares are last at S$5.16.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

June 04, 2025 22:21 ET (02:21 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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This is due to the property developer's slower-than-expected pace of divestments in 2024 and the iconic nature of South Beach, Lee says. The company appears to be fully committed to capital recycling--its key focus for this year. Besides unlocking significant value and delivering accretion to net asset value, Citi expects a higher pace of asset monetization. This could lead to lower net gearing and higher dividends, which are key share-price catalysts. Citi maintains the stock's buy rating and target price of S$9.51. 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Shares are last at S$5.16.(amanda.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 04, 2025 22:21 ET (02:21 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2541019412","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541019412","pubTimestamp":1749090060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0221 GMT - City Developments' proposed sale of its 50.1% stake in the South Beach asset should be a positive surprise for investors, Citi Research analyst Brandon Lee writes in a note. 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Citi maintains the stock's buy rating and target price of S$9.51. Shares are last at S$5.16.(amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 04, 2025 22:21 ET (02:21 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}