CDL’s Kwek Leng Beng, Sherman Kwek Announce 3.9% Profit Growth in First Half Marked by Boardroom Tussle

CDL’s Kwek Leng Beng, Sherman Kwek announce 3.9% profit growth in first half marked by boardroom tussle

“We have put past issues behind us, emerging stronger and more unified,” said executive chairman Kwek Leng Beng, in reference to a public feud with his son in February.

Billionaire Kweks’ CDL Sees Muted Profit Rise After Family Feud

The Singapore developer controlled by the city-state’s richest clan reported a small increase in profit in the first half of the year, a period overshadowed by a damaging family feud.

CDL Posts 3.9% H1 Profit Growth as Kwek Family Feud Recedes - Mingtiandi

City Developments Ltd posted a 3.9 percent year-on-year rise in attributable profit to S$91.2 million ($71.2 million) for the first half of 2025, with the Singaporean giant turning the page after a boardroom tussle marred the early months of the... Read More>> The post Singapore’s CDL Posts 3.9% H1 Profit Growth as Kwek Family Feud Recedes appeared first on Mingtiandi.

CDL reports 3.9% rise in Patmi in 1H2025 with special dividend of 3 cents

City Developments (CDL) announced a 3.9% rise in Patmi to $91.2 million in 1H2025, for the six months to June 30. Revenue rose to $1.7 billion in 1H2025, up from $1.6 billion a year ago. As of June 30 the Group maintained cash reserves of $1.8 billion and cash and available undrawn committed bank facilities totalling $3.5 billion. After factoring in fair value on investment properties, the Group’s net gearing ratio stands at 70% (FY 2024: 69%). …