Profile: City Developments Ltd (CDEVY.PK)
13 Mar 2014
City Developments Limited (CDL) is engaged in property development, ownership and investment holding. The Company’s subsidiaries are engaged in property development and ownership, hotel ownership and operations, a club operation and ownership, investment in properties and in shares, property management, project management and provision of consultancy services, and hospitality-related information technology and procurement services. CDL operates in four business segments: property development, hotel operations, rental properties and others. Effective May 1, 2012, the Company struk off Artemona Investments Limited and Cheerful Link International Limited. On June 20, 2012, Verwood Holdings Pte. Ltd., a wholly owned subsidiary of the Company, incorporated a wholly owned subsidiary, Verspring Properties Pte. Ltd. In October 2012, its wholly owned subsidiary, Verwood Holdings Pte. Ltd., incorporated Crescent View Developments Pte. Ltd. In October 2012, the Company’s subsidiary, South Beach Consortium Pte. Ltd. incorporated South Beach International Hotel Management Pte. Ltd. On October 10, 2012, the Company's wholly owned subsidiary Grande Strategic Pte. Ltd. incorporated Redvale Developments Pte. Ltd. On November 19, 2012, the Company's subsidiary, Verwood Holdings Pte. Ltd. had incorporated a wholly owned subsidiary known as Bellevue Properties Pte. Ltd. On December 3, 2012, its, subsidiary, New Empire Investments Pte. Ltd. incorporated Almere Holdings Pte. Ltd. (Almere). On December 3, 2012, Almere incorporated Bellaire Hotels Pte. Ltd., Canave Investment Pte. Ltd. and Leeton Investment Pte. Ltd. In July 2013, Singapura Developments (Private) Limited incorporated two wholly-owned subsidiaries known as Adelanto Investments Pte. Ltd. and Welland Investments Limited. In August 2013, City Developments Ltd announced that its associated company, Chewathai Limited completed its acquisition of the freehold land located at Pracharat Sai 2 Road, Bangsue SubDistrict, Dusit (Bangsue) District, Bangkok, Thailand. In November 2013, City Developments Ltd announced that Singapura Developments (Private) Limited, a wholly-owned subsidiary of the Company, has incorporated a wholly-owned subsidiary known as Adella Properties Pte. Ltd. On February 14, 2014, the Company’s subsidiary, Singapura Developments (Private) Limited (SDPL), has incorporated a subsidiary Actas Holdings Pte. Ltd (Actas). CDL China Limited, a subsidiary of SDPL, has acquired two subsidiaries known as Orient Star Enterprises Limited and Merit City Global Limited. On February 11, 2014, Welland Investments Limited, a subsidiary of SDPL, has incorporated three subsidiaries known as Adelphia Holdings Limited (Adelphia), Keygate Holdings Ltd (Keygate) and Melvale Holdings Ltd(Melvale). Keygate has incorporated a subsidiary known as Jayland Properties Limited (Jayland). Melvale has incorporated a subsidiary known as Lukestone Properties Limited (Lukestone).On February 6, 2014, Verwood Holdings Pte. Ltd. (Verwood), a subsidiary of the company, has incorporated a subsidiary company known as Canvey Developments Pte. Ltd. (Canvey).
In January 2012, the Company acquired Real Estate Capital Asia Partners, L.P. On January 20, 2012, the Company’s indirect wholly owned subsidiary CDL China Limited incorporated an enterprise known as CDL China (Shanghai) Consulting Co., Ltd. In January 2012, the Company through its indirect wholly owned subsidiary, Vinemont Investments Pte. Ltd. acquired 100% interest in Thailand Shareholder Investments Limited (TSIL). On March 2, 2012, CBM International Pte. Ltd., a wholly owned subsidiary of CBM Pte. Ltd., which is in turn an indirect wholly owned subsidiary of the Company, acquired CBM Primetech Facilities Management Private Limited (CBM Primetech). CBM International has a 50% interest in CBM Primetech and the remaining 50% interest is held by ETA Engineering Private Limited. In April 2012, the Company incorporated indirect wholly owned subsidiary Ingensys Pte. Ltd. In May 2012, CDL announced that Richfield Hospitality, Inc., a subsidiary of City e-Solutions Limited, in turn a subsidiary of the Company, incorporated a wholly owned subsidiary on March 26, 2012, in Hon Kong, known as Richfield Hospitality China. The Principal activity of Richfield is Hotel management. The Company also announced that it incorporated a wholly owned subsidiary on April 25, 2012, in Republic of Singapore known as Verwood Holdings Pte. Ltd. The Principal activity of Verwood is Investment holding. The Company further announced that Verwood, in turn has incorporated a wholly owned subsidiary, on April 25, 2012, in Republic of Singapore, namely White Haven Properties Pte. Ltd. The Principal activity of White Haven is Property development.
On September 1, 2011, the Company incorporated a wholly owned subsidiary Vinemont Investments Pte. Ltd. On September 16, 2011, the Company’s indirect subsidiary Hillmost Holdings Pte. Ltd., incorporated two wholly owned subsidiaries Newston Developments Pte. Ltd. (Newston) and Empire Square Investments Pte. Ltd. In July 2011, CDL China Limited, the Company’s wholly owned subsidiary, acquired its second development site in Suzhou. In January 2012, the Company acquired indirect interests in a retail and hotel development located in the commercial area of Patong, Phuket Island in Thailand, known as the Jungceylon Shopping Mall and Millennium Resort Patong, and the other.
The property development segment develops and purchases residential properties for sale. Hotel operations segment owns and manages hotels. Rental properties segment develops and purchases investment properties for lease. Other segment consists of club operator and owner, investment in shares, property management, project management and consultancy services and provider of information technology and procurement services. The Company has a network of more than 300 subsidiaries and associated companies under its wings. CDL owns and manages a portfolio of residential and investment properties, in addition to hotels, across Asia, Europe/Middle East, North America and New Zealand/Australia. Its subsidiaries include100G Pasir Panjang Poad Pte Ltd, Allinvest Holding Pte Ltd, Allventure Limited, Aston Properties Pte Ltd, Bloomsville Investments Pte Ltd, CBM Pte. Ltd., CBM Parking Pte. Ltd., CBM International Pte. Ltd., CBM Solutions Pte. Ltd., CDL Land Pte Ltd., CBM Security Pte. Ltd., CDL Properties Ltd., Central Mall Pte Ltd and CDL Management Services Pte. Ltd.
City Developments Ltd
#20-01, City House, 36 Robinson