Singapore’s Richest Property Family Hurt by Tax Expenses_老虎社区_美港股上老虎

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...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

Sinjinling
·2021-08-12
加油💪，一定会东山再起！
回复
1
举报
RobinCHG
·2021-08-12
Hopefully can overcome !!
回复
1
举报
Gibbie
·2021-08-12
Tax
回复
2
举报
Roarhigher
·2021-08-12
Nice
回复
2
举报
收起
- DinoJ:
  Ok
  2021-08-12
  回复
  举报
IZLIN
·2021-08-12
@simplydkam @Sagi08 @Meow17for info!
回复
2
举报
Cumcumber
·2021-08-12
Nice
回复
2
举报
收起
- Frisbee:
  ok
  2021-08-12
  回复
  举报
Bull1973
·2021-08-12
Get up from where you’ve fallen! Keep calm and March on
回复
3
举报
收起
- Cumcumber:
  Nice one
  2021-08-12
  回复
  举报

热议股票

7x24

全部

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/1125061302?lang=zh_CN&edition=full","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\">网页链接</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\">网页链接</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,"columns":[],"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":"news","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":895251995,"gmtCreate":1628750251317,"gmtModify":1631893741648,"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💪，一定会东山再起！","listText":"加油💪，一定会东山再起！","text":"加油💪，一定会东山再起！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895251995","repostId":1125061302,"repostType":2,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":895830222,"gmtCreate":1628732346566,"gmtModify":1633744741452,"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://laohu8.com/post/895830222","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895124433,"gmtCreate":1628729903022,"gmtModify":1633744782763,"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://laohu8.com/post/895124433","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895120023,"gmtCreate":1628729505063,"gmtModify":1631893869193,"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://laohu8.com/post/895120023","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5500601,"gmtCreate":1628729686209,"gmtModify":1631893869197,"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":1633744811458,"author":{"id":"3581848609787274","authorId":"3581848609787274","name":"IZLIN","avatar":"https://static.tigerbbs.com/f2241963762942310c858a3aae49c0d1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://laohu8.com/post/895115499","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895116436,"gmtCreate":1628728248325,"gmtModify":1631892242624,"author":{"id":"3575627435539854","authorId":"3575627435539854","name":"Cumcumber","avatar":"https://static.tigerbbs.com/1e62601ef19050a454d9e0097dbba348","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575627435539854","authorIdStr":"3575627435539854"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895116436","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5500540,"gmtCreate":1628729356442,"gmtModify":1631892242626,"authorId":3586246426804465,"author":{"id":3586246426804465,"idStr":"3586246426804465","authorId":3586246426804465,"name":"Frisbee","avatar":"https://static.tigerbbs.com/4d1d7567b89f270a9a9c4d752dc00fa0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":895116436,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"},{"id":895118202,"gmtCreate":1628728186206,"gmtModify":1631887209725,"author":{"id":"3584680402793671","authorId":"3584680402793671","name":"Bull1973","avatar":"https://static.tigerbbs.com/866d29bf88ff7363d121a5ccc6028aae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584680402793671","authorIdStr":"3584680402793671"},"htmlText":"Get up from where you’ve fallen! Keep calm and March on","listText":"Get up from where you’ve fallen! Keep calm and March on","text":"Get up from where you’ve fallen! Keep calm and March on","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895118202","repostId":1125061302,"repostType":4,"repost":{"id":"1125061302","kind":"news","pubTimestamp":1628727166,"share":"https://www.laohu8.com/m/news/1125061302?lang=&edition=full","pubTime":"2021-08-12 08:12","market":"uk","language":"en","title":"Singapore’s Richest Property Family Hurt by Tax Expenses","url":"https://stock-news.laohu8.com/highlight/detail?id=1125061302","media":"Bloomberg","summary":"Singapore’s richest property dynasty, which runs CITY DEVELOPMENTS LIMITED, suffered a loss of S$32.","content":"<p>Singapore’s richest property dynasty, which runs&nbsp;<a href=\"https://laohu8.com/S/C09.SI\">CITY DEVELOPMENTS LIMITED</a>, 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<p>Covid 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.</p>\n<p>With 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.</p>\n<p>“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.</p>\n<p>The company is still reeling from arecord loss&nbsp;of S$1.9 billion for the last financial year, largely because of impairments from its bungled backing of Chinese developer&nbsp;Chongqing Sincere Yuanchuang Industrial Co.&nbsp;CDL has already written off the investment and said it will no longer inject funds into Sincere, which is trying to&nbsp;stave off&nbsp;a bankruptcy application brought against it by a China-based creditor.</p>\n<p>For CDL, it’s trying to move past the fallout and focus on&nbsp;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.</p>\n<p>The 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.</p>","source":"lsy1584095487587","collect":0,"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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C09.SI":"城市发展"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-11/singapore-s-richest-property-family-hurt-by-tax-expenses","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125061302","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.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5500256,"gmtCreate":1628728258785,"gmtModify":1635153861389,"authorId":3575627435539854,"author":{"id":3575627435539854,"idStr":"3575627435539854","authorId":3575627435539854,"name":"Cumcumber","avatar":"https://static.tigerbbs.com/1e62601ef19050a454d9e0097dbba348","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":895118202,"type":1,"supId":0,"prevId":0,"content":"Nice one","text":"Nice one","html":"Nice one"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":57,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}