City Developments Limited

SGX:C09 Stock Report

Market Cap: S$6.6b

City Developments Management

Management criteria checks 4/4

We currently do not have sufficient information about the CEO.

Key information

Sherman Kwek

Chief executive officer

S$3.0m

Total compensation

CEO salary percentage33.30%
CEO tenure7.8yrs
CEO ownershipn/a
Management average tenure8.8yrs
Board average tenure5yrs

Recent management updates

Recent updates

A Look At The Intrinsic Value Of City Developments Limited (SGX:C09)

Oct 28
A Look At The Intrinsic Value Of City Developments Limited (SGX:C09)

Is City Developments (SGX:C09) A Risky Investment?

Oct 05
Is City Developments (SGX:C09) A Risky Investment?

City Developments (SGX:C09) Has Affirmed Its Dividend Of SGD0.03

Aug 18
City Developments (SGX:C09) Has Affirmed Its Dividend Of SGD0.03

Capital Recycling And Global Expansion Will Unlock Value

Key Takeaways Divestment of non-core assets and international expansion into resilient sectors are boosting revenue stability, asset values, and positioning for long-term demand trends. Emphasis on sustainability, fund management, and digitalization enhances operational efficiency, strengthens margins, and increases recurring income, reducing reliance on cyclical property development.

City Developments Limited's (SGX:C09) P/E Is Still On The Mark Following 25% Share Price Bounce

Jul 25
City Developments Limited's (SGX:C09) P/E Is Still On The Mark Following 25% Share Price Bounce

Is City Developments (SGX:C09) Using Too Much Debt?

Jul 01
Is City Developments (SGX:C09) Using Too Much Debt?

City Developments Limited (SGX:C09) Shares Could Be 31% Below Their Intrinsic Value Estimate

May 19
City Developments Limited (SGX:C09) Shares Could Be 31% Below Their Intrinsic Value Estimate

Earnings Troubles May Signal Larger Issues for City Developments (SGX:C09) Shareholders

Apr 15
Earnings Troubles May Signal Larger Issues for City Developments (SGX:C09) Shareholders

City Developments (SGX:C09) Will Pay A Dividend Of SGD0.08

Apr 08
City Developments (SGX:C09) Will Pay A Dividend Of SGD0.08

City Developments (SGX:C09) Is Due To Pay A Dividend Of SGD0.08

Mar 03
City Developments (SGX:C09) Is Due To Pay A Dividend Of SGD0.08

Is City Developments Limited (SGX:C09) Worth S$5.1 Based On Its Intrinsic Value?

Jan 10
Is City Developments Limited (SGX:C09) Worth S$5.1 Based On Its Intrinsic Value?

CEO Compensation Analysis

How has Sherman Kwek's remuneration changed compared to City Developments's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2025n/an/a

S$195m

Mar 31 2025n/an/a

S$193m

Dec 31 2024S$3mS$990k

S$191m

Sep 30 2024n/an/a

S$259m

Jun 30 2024n/an/a

S$328m

Mar 31 2024n/an/a

S$316m

Dec 31 2023S$4mn/a

S$305m

Sep 30 2023n/an/a

S$262m

Jun 30 2023n/an/a

S$219m

Mar 31 2023n/an/a

S$746m

Dec 31 2022S$4mS$986k

S$1b

Sep 30 2022n/an/a

S$1b

Jun 30 2022n/an/a

S$1b

Mar 31 2022n/an/a

S$648m

Dec 31 2021S$2mS$776k

S$72m

Sep 30 2021n/an/a

-S$947m

Jun 30 2021n/an/a

-S$2b

Mar 31 2021n/an/a

-S$2b

Dec 31 2020S$1mS$863k

-S$2b

Sep 30 2020n/an/a

-S$886m

Jun 30 2020n/an/a

S$193m

Mar 31 2020n/an/a

S$350m

Dec 31 2019S$3mS$851k

S$552m

Sep 30 2019n/an/a

S$542m

Jun 30 2019n/an/a

S$600m

Mar 31 2019n/an/a

S$659m

Dec 31 2018S$2mS$858k

S$544m

Compensation vs Market: Sherman's total compensation ($USD2.29M) is about average for companies of similar size in the SG market ($USD2.25M).

Compensation vs Earnings: Sherman's compensation has been consistent with company performance over the past year.

CEO

Sherman Kwek (50 yo)

7.8yrs
Tenure
S$2,974,066
Compensation

Mr. Eik Tse Kwek, also known as Sherman, serves as the Executive Director and Group Chief Executive Officer at City Developments Limited. He assumed his current role as CDL's Group Chief Executive Officer...

Leadership Team

NamePositionTenureCompensationOwnership
Leng Beng Kwek
Executive Chairman56.1yrsS$5.97m0.044%
SGD 2.9m
Eik Tse Kwek
Executive Director & Group CEO7.8yrsS$2.97mno data
Yim Ming Yiong
Group Chief Financial Officer9.8yrsno datano data
Eik Sheng Kwek
Group Chief Operating Officer3.8yrsno datano data
Gerald Yong
Chief Investment Officer2.4yrsno datano data
Ong Siew Toh
Senior Vice President of Group Accountsno datano datano data
Ivan Ng
Chief Technology Officer9.8yrsno datano data
Cindy Tan
Head of Administration Departmentno datano datano data
Belinda Lee
VP and Head of IR & Corporate Communicationsno datano datano data
Sharifah Shah
Senior Vice President of Legalno datano datano data
Adeline Ong
Senior Vice President of Sales & Marketingno datano datano data
Esther An
Chief Sustainability Officerno datano datano data
8.8yrs
Average Tenure
51yo
Average Age

Experienced Management: C09's management team is seasoned and experienced (8.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Leng Beng Kwek
Executive Chairman56.1yrsS$5.97m0.044%
SGD 2.9m
Eik Tse Kwek
Executive Director & Group CEO6.5yrsS$2.97mno data
Daniel Marie Ghislain Desbaillets
Independent Non-Executive Director5yrsS$135.00kno data
Yoon Chou Chong
Independent Non-Executive Director5yrsS$240.54k0.0045%
SGD 294.2k
Su Yen Wong
Independent Non-Executive Directorless than a yearno datano data
Ai Ai Wong
Independent Non-Executive Director3.8yrsS$144.86kno data
Swee Liang Chan
Independent Non-Executive Director4.9yrsS$231.97kno data
Lian Jin Ong
Independent Non-Executive Director5.1yrsS$154.43k0.011%
SGD 734.8k
Jee Cheng Lee
Lead Independent Director4.8yrsS$287.97kno data
Duong Young
Independent Non-Executive Directorless than a yearno data0.0011%
SGD 73.5k
5.0yrs
Average Tenure
61yo
Average Age

Experienced Board: C09's board of directors are considered experienced (5 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/15 10:21
End of Day Share Price 2025/11/14 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

City Developments Limited is covered by 27 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tricia SongBarclays
Donald ChuaBofA Global Research
Justin JenkinsCGS International