Singapore’s Richest Property Family Hurt by Tax Expenses

Bloomberg2021-08-12

Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.1 million ($23.7 million) in the first half of the year due to tax expenses and the pandemic fallout...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

YMY1133
2021-08-13
YMY1133
行吧哪裏跌倒就哪裏爬起來吧。。
Sinjinling
2021-08-12
Sinjinling
加油?，一定會東山再起！
RobinCHG
2021-08-12
RobinCHG
Hopefully can overcome !!
Gibbie
2021-08-12
Gibbie
Tax
Roarhigher
2021-08-12
Roarhigher
Nice
- DinoJ:
  Ok
IZLIN
2021-08-12
IZLIN
@simplydkam @Sagi08 @Meow17for info!

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1125061302?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-12 08:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1125061302","market":"uk","top_or_hot":-1,"title":"Singapore’s Richest Property Family Hurt by Tax Expenses","media":"Bloomberg","content":"<div>\n<p>Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.1 million ($23.7 million) in the first half of the year due to tax expenses and the pandemic fallout...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Richest Property Family Hurt by Tax Expenses</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Richest Property Family Hurt by Tax Expenses\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-12 08:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.1 million ($23.7 million) in the first half of the year due to tax expenses and the pandemic fallout...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"C09.SI","symbol_name":"城市发展","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","article_id":"1125061302","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","pubTimestamp":1628727166,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"C09.SI":"城市发展"},"translate_title":"新加坡最富有的地产家族受税收支出伤害","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"C09.SI":0.9},"content_text":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.1 million ($23.7 million) in the first half of the year due to tax expenses and the pandemic fallout.\nCovid relief plans were no longer available like last year when it benefited from a deferred tax credit of S$17.6 million. CDL’s revenue in the six months rose by 11.1% to S$1.2 billion.\nWith travel restrictions still largely in place for most countries, its hotel operations segment registered a 10.8% decline in revenue. The firm’s investment properties also generated lower rental income, hurt by decreased footfalls, rental rebates given to retail tenants and significantly lower contribution from its Phuket mall.\n“While the road to recovery remains uneven, the accelerated vaccine deployment across the globe and the gradual easing of border restrictions offer light at the end of the tunnel,” said its chief executive officer, Sherman Kwek.\nThe company is still reeling from arecord loss of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer Chongqing Sincere Yuanchuang Industrial Co. CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to stave off a bankruptcy application brought against it by a China-based creditor.\nFor CDL, it’s trying to move past the fallout and focus on other projects. The company applied for a Singapore initial public offering for a U.K real estate investment trust. It’s also reviewing potential divestments and looking to tap Singapore’s booming residential market, analystssaid.\nThe investment in Sincere cast a shadow over the business and even sparked a family rift. Several board members including a cousin to the family patriarch and company chairman, Kwek Leng Beng, resigned in disagreement over the deal. And CDL’s scion Sherman Kwek came under intense pressure to salvage the investment that he promoted.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":894667710,"gmtCreate":1628822844530,"gmtModify":1676529866180,"author":{"id":"3581992203248856","authorId":"3581992203248856","name":"YMY1133","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581992203248856","authorIdStr":"3581992203248856"},"htmlText":"行吧 哪裏跌倒就哪裏爬起來吧。。","listText":"行吧 哪裏跌倒就哪裏爬起來吧。。","text":"行吧 哪裏跌倒就哪裏爬起來吧。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894667710","repostId":1125061302,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":895251995,"gmtCreate":1628750251317,"gmtModify":1676529842099,"author":{"id":"3567110964642792","authorId":"3567110964642792","name":"Sinjinling","avatar":"https://static.tigerbbs.com/936eb96b6a7f33b202c242a44dbbb6b0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3567110964642792","authorIdStr":"3567110964642792"},"htmlText":"加油?，一定會東山再起！","listText":"加油?，一定會東山再起！","text":"加油?，一定會東山再起！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895251995","repostId":1125061302,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":895830222,"gmtCreate":1628732346566,"gmtModify":1676529835018,"author":{"id":"4088998460430790","authorId":"4088998460430790","name":"RobinCHG","avatar":"https://static.tigerbbs.com/bb86904b857cafab4b514a06909214c9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4088998460430790","authorIdStr":"4088998460430790"},"htmlText":"Hopefully can overcome !!","listText":"Hopefully can overcome !!","text":"Hopefully can overcome !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895830222","repostId":1125061302,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895124433,"gmtCreate":1628729903022,"gmtModify":1676529833532,"author":{"id":"3564398446314499","authorId":"3564398446314499","name":"Gibbie","avatar":"https://static.tigerbbs.com/ac29ad2a0a11289a908ae00b770dc0c5","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3564398446314499","authorIdStr":"3564398446314499"},"htmlText":"Tax","listText":"Tax","text":"Tax","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895124433","repostId":1125061302,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895120023,"gmtCreate":1628729505063,"gmtModify":1676529833316,"author":{"id":"3555104076236141","authorId":"3555104076236141","name":"Roarhigher","avatar":"https://static.tigerbbs.com/80741e96f295312c1997c6a41bb6ea13","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3555104076236141","authorIdStr":"3555104076236141"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/895120023","repostId":1125061302,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5500601,"gmtCreate":1628729686209,"gmtModify":1663232255649,"authorId":3585217845569007,"author":{"id":3585217845569007,"idStr":"3585217845569007","authorId":3585217845569007,"name":"DinoJ","avatar":"https://static.tigerbbs.com/46edb5d2f10c742394ecdc373d59785c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":895120023,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":895115499,"gmtCreate":1628728325411,"gmtModify":1676529832740,"author":{"id":"3581848609787274","authorId":"3581848609787274","name":"IZLIN","avatar":"https://static.tigerbbs.com/f2241963762942310c858a3aae49c0d1","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"3581848609787274","authorIdStr":"3581848609787274"},"htmlText":"<a href=\"https://laohu8.com/U/3582502706085184\">@simplydkam</a><a href=\"https://laohu8.com/U/3582026494482473\">@Sagi08</a><a href=\"https://laohu8.com/U/3581561113691319\">@Meow17</a>for info!","listText":"<a href=\"https://laohu8.com/U/3582502706085184\">@simplydkam</a><a href=\"https://laohu8.com/U/3582026494482473\">@Sagi08</a><a href=\"https://laohu8.com/U/3581561113691319\">@Meow17</a>for info!","text":"@simplydkam@Sagi08@Meow17for info!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895115499","repostId":1125061302,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":57,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1125061302"}