City Developments - OCBC Group Research 2026-03-02: All Eyes On Strategic Review

• City Developments (SGX:C09) reported strong headline PATMI for its FY25 results. This was largely boosted by disposal gains but partially offset by S$155m of impairments and foreseeable losses mostly for some properties in China. FY25 PATMI of S$629.7m was more than triple that of FY24 (S$201.3m).

Divestment gains gave a strong boost to headline FY25 PATMI.

• - Read this at SGinvestors.io -
• Management declared a final dividend of 25 Singapore cents. Adding this to the interim special dividend of 3 Singapore cents announced previously, total FY25 dividends amounted to 28 Singapore cents per share, which was higher compared to FY24’s total dividend of 10 Singapore cents. See City Developments's dividends payout dates.

Enhanced dividend policy.

• - Read this at SGinvestors.io -
• Although revenue recognition of the property development business tends to lumpy, City Developments plans to engage in active capital recycling to realise disposal gains, which could support its objective of delivering steady improvements in PATMI.

Ongoing strategic review brings hopes of improved disclosures and value creation for shareholders.

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Group Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Previous report by OCBC:
2025-11-18 City Developments - Active On Multiple Fronts.

Price targets by 4 other brokers at City Developments Target Prices.

Listing of research reports at City Developments Analyst Reports.

Relevant links:
City Developments Share Price History,
City Developments Announcements,
City Developments Dividend Payout Dates & Corporate Actions,
City Developments News