CITYNEWS - City Developments Limited

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CITYNEWS - City Developments Limited
CITY                                                                            BIZBUZZ

NEWS
A QUARTERLY UPDATE BY
CITY DEVELOPMENTS LIMITED                                               OCT — DEC 2017

                                        A SEA OF
                                        OPPORTUNITIES
                                        CDL and joint-venture partner Hong Realty (Private)
                                        Limited have successfully tendered for the collective
                                        sale of the Amber Park condominium site for
                                        S$906.7 million (or S$1,515 psf ppr)

 Honouring a                Sneak Peak —                      CDL Introduces
 Lifelong Dedication        Republic Plaza’s                  Healthy Eating to
                            Rejuvenation                      Construction Workers

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CITYNEWS - City Developments Limited
SPOTLIGHT                                                                                                                                                                                                                                                                                             SPOTLIGHT

                                                                                                                                                                    Amber Park is located within walking distance of Tanjong Katong MRT station on the future Thomson-East Coast Line. (Photo credit: EdgeProp Singapore)

A SEA OF                                                                                                                                                                                                                                             “
                                                                                                                                                is within approximately 500 metres walking distance to Parkway
                                                                                                                                                                                                                                                     CDL AND OUR JV PARTNER HONG REALTY
                                                                                                                                                Parade, still one of the best anchor malls in that area, and an
                                                                                                                                                underpass also affords easy access to the beach front.                                           ARE DELIGHTED TO WIN THE TENDER FOR THIS

OPPORTUNITIES
                                                                                                                                                                                                                                                   VERY ATTRACTIVE AND SIZABLE SITE IN THE
                                                                                                                                                Accessibility is convenient via the East Coast Parkway (ECP)                                     WELL SOUGHT-AFTER KATONG AND EAST COAST
                                                                                                                                                expressway, putting the city centre, Central Business District and                                AREA. WE ARE INTIMATELY FAMILIAR WITH THE
                                                                                                                                                Changi Airport all within about 15 minutes’ drive away. Connectivity
                                                                                                                                                                                                                                                    LOCATION AND THE ENVIRONMENT THERE
                                                                                                                                                will be further enhanced when Tanjong Katong MRT station, located
                                                                                                                                                200 metres from the site, is completed in 2023.
                                                                                                                                                                                                                                                OFFERS A GREAT QUALITY OF LIFE. THIS IS ONE OF
                                                                                                                                                                                                                                                   OUR MOST SIGNIFICANT INVESTMENT DEALS
                                                                                                                                                The site is also within 1 kilometre (km) to Tanjong Katong Primary                                      IN THE SINGAPORE RESIDENTIAL
                                                                                                                                                School and 2 km to CHIJ (Katong) Primary, Haig Girls’ School, Kong                                         MARKET IN RECENT YEARS.
                                                                                                                                                Hwa School and Tao Nan School, which are very popular primary
                                                                                                                                                schools. Other reputable schools in the vicinity include Chung
                                                                                                                                                                                                                                                 CDL WAS THE ORIGINAL DEVELOPER FOR AMBER
CDL, through its wholly-owned subsidiary                                  CDL is very familiar with this District 15 locale, having developed   Cheng High School, Tanjong Katong Girls’ School, Victoria Junior
                                                                          the existing 200-unit Amber Park itself, which was completed in       College, Victoria School, Canadian International School and Global                                 PARK IN THE 1980S AND WE ARE HONOURED
Cityzens Development Pte. Ltd., and joint-
                                                                          1986. CDL and Hong Realty plan to redevelop the site into a luxury    Indian International School.                                                                      TO BE ABLE TO REDEVELOP THE SITE INTO YET
venture partner Hong Realty (Private) Limited
                                                                          condominium development comprising four 25-storey blocks with                                                                                                         ANOTHER ICONIC LANDMARK. IN ADDITION TO ITS
have successfully tendered for the collective                             close to 800 units and a basement carpark. Most apartments will       After several years of subdued market conditions and macro-                                       STRONG LOCATIONAL ATTRIBUTES, A DISTINCT
sale of the Amber Park condominium site for                               have a North-South facing orientation with many units commanding      economic headwinds, the Singapore property market is seeing
                                                                                                                                                                                                                                                    ADVANTAGE OF THIS SITE IS ITS FREEHOLD
S$906.7 million (or S$1,515 psf ppr).                                     sea views.                                                            improved sentiment and increased activity. The private residential
                                                                                                                                                property price index for Q3 2017 showed its first rebound in 15
                                                                                                                                                                                                                                                STATUS, SOMETHING THAT IS INCREASINGLY RARE
                                                                          There is tremendous potential in the Amber Park site and demand
                                                                          for the new project is expected to be healthy given its excellent
                                                                                                                                                quarters (or 4 years). This could signal a budding recovery which
                                                                                                                                                CDL is well-poised to benefit from.
                                                                                                                                                                                                                                                                IN SINGAPORE.
                                                                                                                                                                                                                                                                                                ”
As one of the largest collective sale sites in the exclusive Amber        locational attributes and rare freehold status.                                                                                                                                             MR SHERMAN KWEK
Road enclave located in the East Coast area, the site adds to CDL’s                                                                             CDL will continue to bid strategically for sites while remaining                                                      CDL CEO-DESIGNATE
residential landbank in Singapore. It has an area of 213,675 square       CDL has always felt very positive about the East Coast area. The      disciplined to core fundamentals. The Group remains highly
feet (sq ft), plot ratio of 2.8 and allowable Gross Floor Area of about   wonderful environment consisting of sandy beaches, breezy             selective and value-oriented in its investments to expand its
598,290 sq ft. Hong Realty is the private real estate arm of the Hong     weather and park connectors offers a great quality of life and a      landbank and stand ready to capitalise on attractive opportunities.
Leong Group and holds a 20% stake in this project.                        range of outdoor activities for the family. Furthermore, Amber Park

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CITYNEWS - City Developments Limited
HOMERUN                                                                                                                                                                                                                                                                                                                                         HOMERUN

                                                                                                                          “  I AM VERY HONOURED AND DEEPLY
                                                                                                                            HUMBLED BY THIS RECOGNITION.
                                                                                                                                THIS AWARD IS A TRIBUTE TO
                                                                                                                              EVERY MEMBER OF THIS GROUP,
                                                                                                                            PAST AND PRESENT — DIRECTORS,
                                                                                                                           MANAGEMENT AND STAFF — AND TO
                                                                                                                          THE THIRD GENERATION OF THE KWEK
                                                                                                                            FAMILY MEMBERS IN THE GROUP. I
                                                                                                                           THANK THEM FOR THEIR STEADFAST
                                                                                                                           DEDICATION AND CONTRIBUTION TO
                                                                                                                            THE GROWTH OF OUR COMPANIES
                                                                                                                              FOR OVER THE FIVE DECADES.
                                                                                                                                                                                  ”
                                                                                                                                  MR KWEK LENG BENG,                                  CDL Executive Chairman Mr Kwek Leng Beng (middle) with Guest-of-Honour, Member of
                                                                                                                                                                                      Parliament and CEO of NTUC Fairprice Co-operative Mr Seah Kian Peng (left), and President
                                                                                                                                                                                                                                                                                  CDL Executive Chairman Mr Kwek Leng Beng (second from right) with his wife Mrs Cecilia
                                                                                                                                                                                                                                                                                  Kwek and two sons, CDL CEO-designate Mr Sherman Kwek (right) and Mr Kingston Kwek.
                                                                                                                                EXECUTIVE CHAIRMAN OF                                 of Enterprise Asia Dato William Ng.
                                                                                                                              CDL AND HONG LEONG GROUP

CDL Executive Chairman Mr Kwek Leng Beng giving his acceptance speech after receiving his Lifetime Achievement Award. This is Mr Kwek’s third Lifetime Achievement Award in the
last three years.                                                                                                                                                                     Organised by Enterprise Asia, a regional non-governmental                                    This is Mr Kwek’s third Lifetime Achievement Award in the last
                                                                                                                                                                                      organisation (NGO) for entrepreneurship, the Asia Pacific                                    three years, having received similar awards from the Real Estate

HONOURING
                                                                                                                                                                                      Entrepreneurship Awards (APEA) is one of the region’s most                                   Developers’ Association of Singapore (REDAS) in 2014 and Hotel
                                                                                                         CDL Executive Chairman Mr Kwek Leng Beng                                     prestigious awards for outstanding entrepreneurship, continuous                              Investment Conference Asia Pacific (HICAP) in 2015.
                                                                                                         was accorded a Lifetime Achievement Award                                    innovation and sustainable leadership. Selection for the winners
                                                                                                         at the Asia Pacific Entrepreneurship Awards                                  are carried out by the International Advisory Panel of Enterprise                            Other accolades include “Businessman of the Year” in 1996 by

A LIFELONG
                                                                                                         2017, held on 17 August 2017 at Marina                                       Asia that includes current and former senior public figures from                             Singapore Business Awards, organised by The Business Times and
                                                                                                         Bay Sands. The prestigious accolade was in                                   Philippines, Malaysia and India.                                                             DHL, and “Asia Pacific Hotelier of the Decade” in 2000 by Jones Lang
                                                                                                                                                                                                                                                                                   LaSalle Hotels and Arthur Andersen. In 2015, he received the “SG50
                                                                                                         recognition of his outstanding achievements,

DEDICATION
                                                                                                                                                                                      In his acceptance speech, Mr Kwek also thanked his wife, Mrs Cecilia                         Outstanding Chinese Business Pioneers Award” by Singapore
                                                                                                         visionary leadership and steadfast dedication                                Kwek, for standing by him while he worked to build up his business                           Chinese Chamber of Commerce & Industry (SCCCI).
                                                                                                         that have led to the successful growth of the                                over the years. He paid special tribute to his son Mr Sherman Kwek
                                                                                                         Group for over five decades.                                                 for his tenacity and hard work, stating that his son has good vision.

               CDL Executive Chairman Mr Kwek Leng Beng
               (ninth from right) on stage with other award
03             winners.                                                                                                                                                                                                                                                                                                                                                    04
CITYNEWS - City Developments Limited
HOMERUN                                                                                                                                                                                                                                                                                                                                                        HOMERUN

                                                                                                                                                                                         Ms Yiong Yim Ming, CDL Chief Financial Officer,
                                                                                                                                                                                         said, “Good corporate governance is not just a
                                                                                                                                                                                                                                                                                               RECENT ACCOLADES IN BUSINESS LEADERSHIP & SUSTAINABILITY
                                                                                                                                                                                         component of business ethics and responsibility,
                                                                                                                                                                                         but also the foundation for any corporation which                                                         DUPONT SAFETY AND SUSTAINABILITY AWARDS 2017
                                                                                                                                                                                         intends to remain sustainable and relevant for                                  •      Regional Sustainability Award
                                                                                                                                                                                         the future. Effective corporate governance and
                                                                                                                                                                                         strong business ethics form the bedrock of any                                                         GLOBAL REAL ESTATE SUSTAINABILITY BENCHMARK (GRESB)
                                                                                                                                                                                         successful business.”                                                                                              REAL ESTATE ASSESSMENT 2017

                                                                                                                                                                                                                                                                         •      Regional Sector Leader
                                                                                                                                                                                         In line with its corporate vision of ‘Building
                                                                                                                                                                                         Value for Tomorrow, Today’, CDL has also                                                                  SECURITIES INVESTORS ASSOCIATION (SINGAPORE)
                                                                                                                                                                                                                                                                                                          (SIAS) INVESTORS’ CHOICE AWARDS
                                                                                                                                                                                         launched a new sustainability blueprint — CDL
                                                                                                                                                                                                                                                                     •       Shareholder Communications Excellence Award — Winner, Big Cap Category
                                                                                                                                                                                         Future Value 2030. It encapsulates CDL’s long-
                                                                                                                                                                                                                                                                     •       Sustainability Award — Winner
                                                                                                                                                                                         standing sustainability commitment and best
                                                                                                                                                                                         practices, and sets clear directions to guide the                           •       Singapore Corporate Governance Award — Runner-up, Real Estate Category

                                                                                                                                                                                         company towards 2030, a milestone year for
                                                                                                                                                                                         major global commitments including the Paris                                        SINGAPORE GREEN BUILDING COUNCIL (SGBC) — BUILDING AND CONSTRUCTION AUTHORITY (BCA)
                                                                                                                                                                                                                                                                                                    SUSTAINABILITY LEADERSHIP AWARDS 2017
                                                                                                                                                                                         Agreement and the United Nations Sustainable
                                                                                                                                                                                                                                                                         •    Green Building Organisations: Business Leadership in Sustainability, Winner
                                                                                                                                                                                         Development Goals.
                                                                                                                                                                                                                                                                         •    Green Building Projects: Leadership in Design & Performance (Residential), Winner
                                                                                                                                                                                                                                                                              — Blossom Residences
                                                                                                                                                                                         To enhance engagement with the investment
                                                                                                                                                                                                                                                                         •    Green Building Individuals: Green Advocate of the Year — Ms Esther An, CDL Chief
CDL Group General Manager Mr Chia Ngiang Hong (second from right) receiving the Business Leadership in Sustainability Award from Minister for National Development and Second Minister
                                                                                                                                                                                         community, CDL created a dedicated IR                                                Sustainability Officer
for Finance Mr Lawrence Wong (second from left) at the SGBC-BCA Sustainability Leadership Awards 2017.                                                                                   function in 2016. Since then, CDL’s senior
                                                                                                                                                                                         management team has proactively met with                                                                    SINGAPORE SUSTAINABILITY REPORTING AWARD

                                                                                                                                                                                         investors and participated in various investor

TOP HONOURS IN
                                                                                                                                                                                                                                                                         •      Best Sustainability Report for Established Reporters (Mainboard and Catalist)
                                                                                                                                                                                         conferences      and     non-deal    roadshows,
                                                                                                                                                                                         locally and internationally, to reach out to                                                                      SUSTAINABLE BUSINESS AWARDS 2017

BUSINESS EXCELLENCE
                                                                                                                                                                                         investors — existing and potential. In addition,                                •    Overall Winner
                                                                                                                                                                                         over 30 site visits to CDL’s developments in                                    •    Best Strategy and Sustainability Management
                                                                                                                                                                                         Singapore, China and UK were facilitated for                                    •    Special Recognition Award — Workforce
                                                                                                                                                                                         fund managers and analysts. CDL also
                                                                                                                                                                                                                                                                         •    Special Recognition Award — Energy Management
                                                                                                                                                                                         introduced a ‘live’ webcast of its financial
In Q3 2017, CDL was accorded multiple prestigious accolades for sustainability, corporate governance                                                                                     results briefings and made refinements to its
                                                                                                                                                                                                                                                                  Visit www.cdl.com.sg to find out more on its achievements.
and shareholder communications. These achievements stand as a testament to CDL’s unique approach                                                                                         financial presentations, providing greater data
of adopting a ‘triple bottom line’ which seeks to optimise the mix of financial and ethical performance,                                                                                 granularity. CDL’s active engagement with the
                                                                                                                                                                                         investment community has been received
environmental stewardship, and social engagement. This has helped the company to operate more
                                                                                                                                                                                         positively, resulting in increased liquidity and
efficiently, mitigate risks, build trust, strengthen its brand and create lasting value.                                                                                                 resilience of the stock.

                                                                                                                      Over the past one year, CDL has ramped up its
                                                                                                                      efforts in corporate governance. The company’s
                                                                                                                      latest annual report includes disclosure of key
                                                                                                                      executives’ aggregate remuneration and its Audit
                                                                                                                      & Risk Committee’s commentary and responses
                                                                                                                      to the significant matters raised by external
                                                                                                                      auditors in their audit report.

                                                                                                                      In 2016, the Corporate Social Responsibility
                                                                                                                      & Corporate Governance Committee was
                                                                                                                      renamed the Board Sustainability Committee
                                                                                                                      (BSC) to better reflect the role of the Board in
                                                                                                                      advancing sustainability within CDL. The BSC’s
                                                                                                                      terms of reference included its purview over
                                                                                                                      matters relating to the Environmental, Social
                                                                                                                      and Governance (ESG) framework, ESG targets,
                                                                                                                      sustainability reporting framework and also CDL’s
                                                                                                                      policies, practices and performance on material
CDL Chief Financial Officer Ms Yiong Yim Ming (second from right) receiving the Shareholder Communications
Excellence Award from Guest of Honour Ms Sim Ann, Senior Minister of State, Ministry of Trade and Industry &          ESG factors which are significant and contribute
Ministry of Culture, Community and Youth (second from left), with SGX CEO Mr Loh Boon Chye (first from left)          to CDL’s performance, business activities and
and Founder, President and CEO of Securities Investors Association (Singapore) Mr David Gerald (first from right)
looking on.                                                                                                           reputation as a global corporate citizen.                          Mr Chan Chun Sing, Minister in the Prime Minister’s Office and Secretary-General, National Trades Union Congress (middle), presented the inaugural
                                                                                                                                                                                         Singapore Sustainability Reporting Awards to CDL Chief Sustainability Officer Ms Esther An (third from left).

                                                                                                                                                                                         (Photo credit: Singapore Institute of Directors)

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CITYNEWS - City Developments Limited
HOMERUN                                                                                                                                                                                                                                                                                                                             HOMERUN

      GAINING AN EDGE
      THROUGH LUXURIOUS
      QUALITY HOMES                                                                                                                                                                             EDGEPROP EXCELLENCE
                                                                                                                                                                                                AWARDS 2017
                                                                                                                                                                                                •   Top Developer Award

                                                                                                                                                                                                •   Development Excellence Award (Central) — Gramercy Park

                                                                                                                                                                                                •   Marketing Excellence Award — Forest Woods

                                                                                                                                                                                                •   Value Creation Excellence Award — Bartley Residences

                                                                                                                                                                                                                                                                                         Gramercy Park
                                                                                                                                                                                                                                                                                         features two stunning
                                                                                                                                                                                                                                                                                         towers with a unique
                                                                                                                                                                                                                                                                                         sculptural design and
                                                                                                                                                                                                                                                                                         facilities that include a
                                                                                                                                                                                                                                                                                         50-metre Grand Pool.

                                                                                                                                                                        Artist’s Impression

                                                                                                                                                                                                                                                                                BEST
Forest Woods — Winner in Marketing Excellence. With its right mix of prime location, unique features, attractive pricing and great value, CDL’s Forest Woods has achieved strong response and
demand — The project is 90% sold to date.

                                                                                                                                                                                                                                                                                RESIDENTIAL
CDL received the highest honour of Top Developer
in the inaugural EdgeProp Excellence Awards 2017.
Its residential projects also snagged accolades

                                                                                                                                                                                                                                                                                DEVELOPER FOR
for excellence.

At the inaugural EdgeProp Excellence Awards gala dinner held

                                                                                                                                                                                                                                                                                THE FIFTH YEAR
on 25 October 2017 at the Pan Pacific Singapore hotel, CDL was
presented with the Top Developer Award, which recognises
Singapore’s leading developers.

Three CDL projects also swept awards for excellence.                                                                                                                                                                                                                            CDL was named Best Residential Real Estate Developer
Gramercy Park, a 174-unit freehold residence on Grange
                                                                                                                                                                                                                                                                                in Singapore in Euromoney’s 13th annual Real Estate
Road, received the Development Excellence Award. Designed
by celebrated architectural firm NBBJ, the iconic residence                                                                                                                                                                                                                     Survey, through a poll of 2,462 valid responses from
features two sculptural towers within an expansive 170,000 square                                                                                                                                                                                                               1,218 industry firms in 75 countries.
feet estate.
                                                                                                                                                                                                D’Nest is CDL’s 912-unit luxurious condominium located in Paris Ris. Designed
                                                                                                                                                                                                and built to provide a seamless integration with nature, the project entered
Forest Woods, a 519-unit condominium at Lorong Lew Lian,                                                                                                                                        the Singapore Book of Records for “Largest Solar Panels in a Condominium” in
was presented with the Marketing Excellence Award. Launched                                                                                                                                     2013. The project achieved full completion recently in October.

last October, the project was one of 2016’s bestselling private
condominium projects. To date, over 90% of the units have been
snapped up. Bartley Residences, jointly developed by Hong Leong                                   CDL Chief Strategy Officer and Head, Asset Management Mr Kwek Eik Sheng (left),               This marks the eighth year that CDL has been                                    This year’s Euromoney Real Estate survey was conducted between March
                                                                                                  receiving the award from award presenter Mr Jonathan Yeo, Vice President of event
Holdings, CDL and TID Pte Ltd, received the Value Creation Award,                                 sponsor, Mitsubishi Electric Asia Pte Ltd.                                                    recognised for excellence in the survey, and the fifth year                     and May 2017, based on peer nominations and voter participation scores.
accorded based on quantitative analysis.                                                                                                                                                        topping the Best Residential Real Estate Developer in                           Respondents nominated and voted on the firms which they thought were
                                                                                                                                                                                                Singapore category.                                                             the best providers of real estate products and services in their respective
The shortlisted projects and eventual winners were evaluated                                                                                                                                                                                                                    markets over the past 12 months. They were also asked to provide their
based on a rigorous judging process by an independent panel                                                                                                                                     Conducted by Euromoney, a leading business and financial                        views on the latest developments in the market, in reflection of individual
of judges from more than 50 submissions received from over                                                                                                                                      publication, the poll canvassed opinions of advisors,                           opinions rather than those of their companies. Scores were tabulated
20 property developers. Organised by property portal EdgeProp                                                                                                                                   developers, investment managers, banks, and corporate                           at a country level, and global and regional were weighted aggregates of
Singapore and audited by KPMG Singapore, the awards                                                                                                                                             end-users of real estate worldwide.                                             country results.
are a benchmark of excellence in Singapore’s property industry.

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CITYNEWS - City Developments Limited
BIZBUZZ                                                                                                                                                                                                                                                                                                             BIZBUZZ

                                                                                                                                                                             CDL Q2 AND 1H 2017
                                                                                                                                                                             FINANCIAL RESULTS
                                                                                                                                                                             CDL’s Q2 2017 and 1H 2017 Financial Results Briefing was held on 11 August
                                                                                                                                                                             2017. For Q2 2017 and 1H 2017, CDL achieved revenue of S$854.1 million
                                                                                                                                                                             (Q2 2016: S$1.1 billion) and S$1.6 billion (1H 2016: S$1.8 billion), and attributable
                                                                                                                                                                             profit after tax and non-controlling interests (PATMI) of S$109.9 million
                                                                                                                                                                             (Q2 2016: S$133.8 million) and S$195.3 million (1H 2016: S$239.1 million).

                                                                                                                                                      Artist’s Impression
                                                                                                                                                      (subject to changes)
                                                                                                                                                                             The higher PATMI and revenue for Q2 2016 and             The company has appointed its Deputy CEO Mr Sherman Kwek as CEO-
                                                                                                                                                                             1H 2016 were underpinned by the contribution             designate. His promotion is in line with CDL Board’s succession plan, put in
                                                                                                                 A preview of the revamped driveway at Republic Plaza.       from Lush Acres Executive Condominium (EC).              place since April 2016, to ensure continuity of leadership within the senior
                                                                                                                                                                             Excluding the contribution of Lush Acres EC which        management team. Mr Kwek will assume full responsibilities as the CEO of

SNEAK PEAK —
                                                                                                                                                                             obtained its Temporary Occupation Permit (TOP) in        the Company from 1 January 2018.
                                                                           Republic Plaza, CDL Group’s flagship building in                                                  Q2 2016, when revenue and profit were recognised
                                                                           the heart of Singapore’s Central Business District,                                               in entirety upon completion under prevailing             CDL will be announcing its unaudited financial results for Q3

REPUBLIC PLAZA’S
                                                                           will undergo a S$60 million Asset Enhancement                                                     accounting policies for ECs, the Group’s revenue         2017 results, end of the trading hours of Singapore Exchange on
                                                                           Initiative (AEI) that will rejuvenate this iconic                                                 and PATMI would have increased by 15.7% and              9 November 2017.
                                                                                                                                                                             43.4% respectively for Q2 2017, and 12.1% and 7.4%

REJUVENATION
                                                                           office development to cater to the evolving
                                                                                                                                                                             for 1H 2017.
                                                                           business landscape, increase space efficiency
                                                                           and inject fresh vibrancy.                                                                        For Q2 2017 and 1H 2017, PATMI and revenue were
                                                                                                                                                                             driven by contribution from well-received projects
                                                                                                                                                                             including Gramercy Park, Coco Palms and The
                                                                                                                                                                             Venue Residences, coupled with continued profit
                                                                                                                                                                             recognition from Hongqiao Royal Lake, Shanghai
The phased AEI works will commence in Q1 2018 and are expected to          In parallel, Tower Club Singapore, a premier, members-only
                                                                                                                                                                             and Hong Leong City Center, Suzhou when the
complete by 1H 2019. These include the revamp of the main lobby,           business club located at the top three floors of Republic Plaza, has
                                                                                                                                                                             units were handed over to buyers progressively.
lift lobbies, driveway and frontage; lift modernisation incorporating      also embarked on enhancement works to attract new members.
                                                                                                                                                                             With improved market sentiments and ahead of the
Destination Control System and upgrading of lift interiors; addition       Expected to cost close to S$3 million, the enhancement works
                                                                                                                                                                             Additional Buyer’s Stamp Duty deadline, The Venue
of new restrooms, upgrading of existing restrooms; and increasing          include the renovation of its Straits Bar to create new spaces for
                                                                                                                                                                             Residences is fully sold.
floor-to-ceiling heights of selected office floors.                        members to work and socialise and a new kitchen tailored to
                                                                           new food concepts. Works commenced in mid-July 2017 and are
                                                                                                                                                                             Mr Kwek Leng Beng, CDL Executive Chairman, said,
Republic Plaza’s retail space will also be enhanced to provide better      targeted for completion by mid-October 2017. The renovation will
                                                                                                                                                                             “After several years of subdued market conditions
pedestrian flow and visibility, achieve a more efficient layout, as well   see Tower Club Singapore maintain its position as one of the best
                                                                                                                                                                             coupled with macro headwinds, the ‘heartbeat’ of
as to incorporate M&E infrastructure to facilitate more F&B offerings.     in the city.
                                                                                                                                                                             Singapore’s residential property market appears
                                                                                                                                                                             to be getting stronger with increased activity and
Plans are on hand to create a new retail cluster on Level 2 of Republic
                                                                                                                                                                             some vital signs of a possible stabilisation. CDL is
Plaza, through the conversion of some existing car park spaces. The
                                                                                                                                                                             well-poised to benefit from an upcycle. In addition
building’s office space will also be enhanced with the upgrading and
                                                                                                                                                                             to strong residential sales, we will also benefit from
expansion of bathrooms, as well as the conversion of Gross Floor
                                                                                                                                                                             monetisation opportunities to unlock value through
Area into more efficient and higher value uses. These enhancements
                                                                                                                                                                             potential collective en-bloc prospects for some of
will in turn support the building’s tenant mix rejuvenation.
                                                                                                                                                                             our mature assets, as well as possible divestment
                                                                                                                                                                             or repurposing of our non-core properties.”
Demand for office space at Republic Plaza remains strong as the
Grade A building has several enviable attributes. It is located in
                                                                                                                                                                             The company also announced the resignation of Mr
the heart of Raffles Place with direct underground connectivity
                                                                                                                                                                             Grant Kelley, who has served as CDL CEO for more
to Raffles Place MRT station; it has ample car park space; and the
                                                                                                                                                                             than three and a half years. He will be taking up new
overall property has been well-maintained.
                                                                                                                                                                             challenges as the CEO of Australia-listed Vicinity
                                                                                                                                                                             Centres, a real estate investment trust company
The new year will see the entire CDL’s corporate office, currently
                                                                                                                                                                             based in Melbourne, Australia. Mr Kelley will remain
based at City House, relocate to Republic Plaza. By Q2 2018, all its
                                                                                                                                                                             at CDL until 31 December 2017.
operations will be housed under one roof, occupying three floors                                                                                                                                                                      Given the strong sales for the luxury 174-unit Gramercy Park, CDL plans to launch another high-
                                                                                                                                                                                                                                      end project in the Orchard Road vicinity, New Futura. A key attraction of this exclusive 124-unit
of about 42,000 square feet (sq ft). This will free up nine floors of                                                                                                                                                                 development is its freehold status, which is increasingly rare in Singapore. The project features
                                                                                                                                                                                                                                      two iconic 36-storey towers with stunning architecture and comprises two- to four-bedroom
space at City House, amounting to about 60,000 sq ft. The Group                                                                                                                                                                       apartments and five-bedroom penthouses.
has already secured a lease commitment for approximately half of
                                                                           Artist’s impression of Tower Club Singapore’s new look after its revamp.
this vacated space at City House.

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CITYNEWS - City Developments Limited
BIZBUZZ                                                                                                                                                                                                                                                                                                                                                      BIZBUZZ

WATERBROOK BAYVIEW —
FIVE-STAR SENIOR HOUSING
In early August, CDL Group entered into a collaboration with Waterbrook Lifestyle Resorts to develop a
luxury five-star retirement village in Bayview, Sydney.

                                                                                                                                                                                                   AMPING UP
                                                                                                                                                                                                   RECRUITMENT IN
                                                                                                                                                                                                   MIDDLE EAST
                                                                                                                                                                                                Located in the heart of Islam’s holiest city, the Makkah Millennium Hotel and Makkah Millennium Towers are the newest additions to the MHR MEA Group’s stable of properties in the Middle
  Artist’s Impression                                                                                                                                                                           East, as part of the new openings and recruitment drive for new employees.

Waterbrook Bayview will provide facilities and services including 24/7 concierge service, restaurants, library, cinema, indoor pool/spa, wellness and spiritual centre, games centre, putting
green, walking track, interactive gardens, hair and beauty salons, chauffeured courtesy vehicles, as well as in-house nurses.

CDL has entered into a collaboration with Waterbrook Lifestyle                                                                                                                                  Millennium Hotels and Resorts Middle East and                                                    Mr Anis Fares, MHR MEA Director for Human Resources, said
                                                                                                       Artist’s Impression
Resorts to develop a luxury five-star retirement village in Bayview,                                                                                                                            Africa (MHR MEA) region has announced plans                                                      that the Group’s priority will be to promote from within, invest
Sydney. Bayview is an exclusive location within the Northern                                                                                                                                                                                                                                     in internal talents and enable career development within the
                                                                                                                                                                                                to recruit 4,000 employees by 2018, with a focus
Beaches that houses a large and growing ageing population, and                                                                                                                                                                                                                                   company to meet the requirements in the new hotel openings. In
                                                                                                                                                                                                on hiring nationals from the Gulf Cooperation                                                    addition, the Group has also invested in recruitment services such
is a short distance from Mona Vale Beach and the Mona Vale
shopping and retail precinct.                                                                                                                                                                   Council (GCC). As one of the Middle East’s fastest                                               as applicant tracking systems, as well as social sourcing to facilitate
                                                                                                                                                                                                growing companies, MHR MEA has an exciting                                                       a professional, effective and efficient recruitment process, and to
Slated for completion in 2020, the project is currently at the                                                                                                                                  future on the horizon, including a total of 10 new                                               ensure a strong employer branding throughout the region.
planning and design stage, with the number of units and gross                                                                                                                                   hotel openings within the next year.
development value to be finalised. The Group will be participating                                                                                                                                                                                                                               Mr Kevork Deldelian, MHR MEA Chief Operating Officer, said that
through debt financing of A$35 million, for which the specific terms                                                                                                                                                                                                                             they will continue to work closely with government entities to
are confidential.                                                                                                                                                                                                                                                                                support employment as the Group continues to expand into the
                                                                                                                                                                                                                                                                                                 Kingdom of Saudi Arabia and Oman. He added, “It is vital that we
CDL is positive on the luxury retirement sector as there is strong                                   Waterbrook Bayview will be built on a 20,000 square metre freehold site.                   With properties confirmed for Saudi Arabia, UAE, Qatar, Turkey                                   demonstrate that the hospitality industry is a viable career option
unmet demand from a growing demographic of well-heeled                                                                                                                                          and Oman, the MHR MEA brand has confirmed a recruitment of                                       above other industries by investing in training and developing our
retirees who desire to live in well-curated communities with good                                                                                                                               4,000 employees across 10 hotels over the next 12 months. This                                   talent. The perception of the hotel industry as a career is changing
facilities. It is excited to embark on this new area of business and                                                                                                                            will include a search for 400 managers and executives, as well as                                amongst GCC nationals as hotel groups are seeking ways to attract
intends to collaborate with Waterbrook to set a new benchmark                                                                                                                                   600 supervisors, creating many employment opportunities in the                                   and retain national talent. The Group invests in its employees to
in Australian retirement living and expand the brand throughout                                                                                                                                 Middle East region.                                                                              ensure they undergo extensive training and development so they
Australia, New Zealand and other parts of the world.                                                                                                                                                                                                                                             have the tools to deliver the highest service standards to guests.”

11                                                                                                                                                                                                                                                                                                                                                                                     12
CITYNEWS - City Developments Limited
LUXESTYLE                                                                                                                                                                                                                                                                                               LUXESTYLE

WIN-WIN FOR
MILLENNIUM HILTON
NEW YORK ONE UN PLAZA
Located in the heart of the International United Nations Headquarters in New York City, the hotel                                                              Millennium Hilton New York One UN Plaza. With the availability of
has a long history of welcoming global pioneers, politicians and diplomats and will continue to                                                                premier accommodation and event space in midtown Manhattan,
                                                                                                                                                               Millennium Hilton New York One UN Plaza will be an ideal choice
deliver impeccable hospitality under Hilton’s operation. In addition to exceptional service, guests
                                                                                                                                                               for many of the Hilton loyal guests. It is a win-win situation for
of Millennium Hilton New York One UN Plaza will also be able to enjoy the added benefits of Hilton                                                             both Hilton and M&C Group. We look forward to this expanded
Honors, Hilton’s award-winning loyalty programme.                                                                                                              relationship with Hilton in North America and internationally.”

                                                                                                                                                               With approximately 7,500 square feet of meeting spaces,
                                                                                                                                                               Millennium Hilton New York One UN Plaza is the ideal place for
                                                                                                                                                               meetings and events. The hotel boasts six versatile meeting and
                                                                                                                                                               function rooms offering natural light and panoramic views of
                                                                                                                                                               New York City, including the hotel’s stunning ballroom, which can
                                                                                                                                                               accommodate up to 300 guests. Each space comes with audio-
                                                                                                                                                               visual and production support along with the added bonus of
                                                                                                                                                               having the hotel’s specialised catering and events team on hand
                                                                                                                                                               to provide advice and support. In addition to this, guests can also
                                                                                                                                                               use the hotel’s tennis court, valet parking, concierge service, Wi-Fi,
                                                                                                                                                               24-hour fitness centre and children’s programming.

                                                                                                                                                               Mr Kwek added, “With stunning skyline views, modern                      In addition to views of the city and proximity to attractions, guests of Millennium Hilton New York One
                                                                                                                                                                                                                                        UN Plaza can also enjoy a variety of dining options, such as the revamped Ambassador Grill which
                                                                                                                                                               accommodations and amenities and a location in one of the                offers modern, all-day dining serving classic dishes in a historic setting.
                                                                                                                                                               world’s most sought-after destinations, we are confident we will
                                                                                                                                                               exceed our guests’ expectations and further establish Millennium
                                                                                                                                                               Hilton New York One UN Plaza as one of the city’s top hotels. The
                                                                                                                                                               hotel will join its sister property, Millennium Hilton New York
                                                                                                                                                               Downtown, which is currently celebrating its 25th anniversary this
                                                                                                                                                               year, in welcoming many of the Hilton brand’s valued guests to
                                                                                                                                                               this dignified residential area of Midtown East.”

                                                                                                                                                               Mr David Marr, Senior Vice President and Global Head, Full
                                                                                                                                                               Service Brands, Hilton, said, “At Hilton, we are constantly looking
                                                                                                                                                               to be in the destinations that matter most to travellers and New
                                                                                                                                                               York City continues to attract record-breaking visitors each year.
                                                                                                                                                               The opening of Millennium Hilton New York One UN Plaza brings
The iconic ONE UN New York hotel by M&C Hotels joined the Hilton network of hotels as Millennium Hilton New York One UN Plaza on 30 August 2017.               our signature hospitality to where the world meets, and we look
                                                                                                                                                               forward to providing exceptional guest experiences true to the
                                                                                                                                                               Hilton brand.”

The property completed an extensive S$68 million phased                                         Mr Kwek Leng Beng, CDL Executive Chairman and Chairman of
renovation in 2016, which upgraded 439 guest rooms and suites,                                  Millennium & Copthorne Hotels plc (M&C), said, “We are very
meetings and event spaces, public areas and restaurants while                                   pleased that our unique property located on the grounds of                                                                              Newly renovated spacious guest rooms offer plenty of space to work and relax, and
                                                                                                                                                                                                                                        boast spectacular views of the New York City skyline and East River. The Millennium
preserving the distinctive architecture and character of the                                    the United Nations headquarters will be managed by Hilton as                                                                            Hilton New York One UN Plaza is located close to several landmarks and attractions
original Kevin Roche-designed building.                                                                                                                                                                                                 including Broadway Theatre District, Times Square, Empire State Building, Grand Central
                                                                                                                                                                                                                                        Terminal and the world-famous shopping destination, Fifth Avenue.

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CITYNEWS - City Developments Limited
LUXESTYLE                                                                                                                                                                                                                                                                                                                                                                            LUXESTYLE

M SOCIAL OPENS
                                                                                                              Millennium Hotels and Resorts (MHR) has                                                      The hotel’s restaurant, Beast & Butterflies, offers casual all-                                         Technology is a focal point of the hotel, with self-check-in kiosks
                                                                                                              expanded its M Social brand with the soft                                                    day dining with an outdoor terrace and bar, while an on-site                                            in addition to a traditional reception desk, smart TVs in every

ITS DOORS
                                                                                                                                                                                                           delicatessen serves salads, cured meats and bakery items, as well                                       guest room and a media wall that displays local information such
                                                                                                              opening of a new property in Auckland, New
                                                                                                                                                                                                           as coffee. Meeting and event spaces are available and are inclusive                                     as transportation timetables, weather forecasts and details of
                                                                                                              Zealand. M Social Auckland opened its doors                                                  of technology, with room for up to 50 delegates.                                                        activities.

IN AUCKLAND
                                                                                                              on 4 October 2017. This follows the launch of
                                                                                                              M Social Singapore last year.                                                                General Manager of M Social Auckland Mr Nigel Edwards                                                   The hotel will mark its official grand opening in the first quarter
                                                                                                                                                                                                           commented, “We are extremely excited to bring such a vibrant                                            of 2018.
                                                                                                                                                                                                           lifestyle hotel to Auckland that embraces local culture. Not only
                                                                                                                                                                                                           will M Social Auckland provide the perfect base for travellers, it will                                 Room rates at M Social Auckland will start from only NZD$279,
                                                                                                                                                                                                           constantly evolve and become a local hotspot for those who live,                                        including Wi-Fi and movies.
                                                                                                                                                                                                           work and play in the area to socialise.”

                                                                                                                                                                                                                 NEW BRAND
                                                                                                                                                                                                                                                                                                                  AccorHotels has taken over the management of
                                                                                                                                                                                                                                                                                                                  Maldives luxury resort, Jumeirah Dhevanafushi

                                                                                                                                                                                                                 FOR PARADISE
                                                                                                                                                                                                                                                                                                                  from 1 September 2017, and rebranded it to
                                                                                                                                                                                                                                                                                                                  Dhevanafushi Maldives Luxury Resort. It will then
                                                                                                                                                                                                                                                                                                                  be rebranded as the Raffles Maldives Meradhoo

                                                                                                                                                                                                                 ON MALDIVES                                                                                      Resort in late 2018 following a refurbishment.

                                                                                                                                                                                 Artist’s Impression

Located on the waterfront of Auckland’s prime Central Business District, the 190-room lifestyle M Social Auckland presents itself as New Zealand’s new kid on the block. With local cultural themes
of fauna, marine life and literature, the hotel makes an ideal destination for family travellers.

Centred around the design experience, M Social Auckland will offer
contemporary form and function in a casual setting, featuring
spaces that are designed to be accessible and flexible to guests’
needs; an extension of the democratic design concept which typifies
M Social Singapore. It will provide a modern space for those who
live, work and play in the neighbourhood, as well as a social base
for curious travellers.

The 190-room hotel features five room categories: Social, Social
View, Social Club, Social Tribe and Social Tribe View. There are also
two suite categories: Harbour and Ocean that offers unparalled                                                                                                                       Artist’s Impression

harbour views. Each floor of the hotel has its own theme based                                         The hotel’s restaurant, Beast & Butterflies, offers casual all-day dining with an outdoor
                                                                                                                                                                                                           The idyllic Jumeirah Dhevanafushi resort is an exotic hideaway located in the southern end of the Maldives. With island villas and ocean villas as pictured, it also comes with an extensive list of
                                                                                                                                                                                                           comforts for guests, making it the perfect spot for special occasions.
around elements of local culture, such as fauna, marine life and                                       terrace and bar.
literature.

Contemporary and chic, all guestrooms feature wall-to-wall                                                                                                                                                 Set on the private island of Meradhoo, Jumeirah Dhevanafushi in                                         at the very top end of the luxury resort sector in the Maldives,
windows overlooking picturesque Auckland Harbour, with the                                                                                                                                                 Maldives features 21 island villas and 16 ocean villas with private                                     following the re-positioning exercise in 2018.”
‘Social View’ categories located on the upper floors for even                                                                                                                                              pools, three restaurants and a cocktail bar.
more stunning views. Guests in Social Club rooms or the suites                                                                                                                                                                                                                                                     “We are thrilled to announce our very first luxury resort in the
have access to the Social Lounge, which features communal                                                                                                                                                  Recreational facilities and services include a spa, an over-the-water                                   Maldives at a time when the region is enjoying excellent growth,
workstations, individual tables and facilities including printers,                                                                                                                                         fitness centre, yoga programmes, water sports, private dining                                           especially with travellers from Asia Pacific. AccorHotels is bringing
stationery and other essentials.                                                                                                                                                                           options, a 24-hour butler and private chef service, along with                                          to the resort our expertise in delivering unparalleled luxury
                                                                                                                                                                                                           snorkelling and diving through the resort’s Professional Association                                    experiences renowned in our Raffles, Fairmont and Sofitel brands,
MHR Chief Marketing Officer Mr Franck Kermarrec said, “Following                                                                                                                                           of Diving Instructors (PADI)-certified dive centre.                                                     along with the benefits of our award-winning global loyalty
the much-anticipated launch of M Social Singapore in June 2016,                                                                                                                                                                                                                                                    programme, Le Club AccorHotels,” said Mr Patrick Basset, CEO of
we are delighted to expand our portfolio further with the launch of                                                                                                                  Artist’s Impression   Mr Vincent Yeo, CDL Hospitality Trusts CEO, said, “With active asset                                    AccorHotels, Upper Southeast and Northeast Asia.
M Social Auckland. The property strengthens our lifestyle offering,                                                                                                                                        management being one of the key pillars of our management
                                                                                                       All guestrooms such as the Harbour Suite (pictured above) feature wall-to-wall windows
and with plans to expand the brand further in the near future, it is                                   with picturesque views of Auckland Harbour.
                                                                                                                                                                                                           strategy, we believe the appointment of AccorHotels for the resort                                      The resort can be accessed by a 55-minute flight from Male Airport
a very exciting time for us.”                                                                                                                                                                              will allow us to optimise its asset potential and redefine this resort                                  and a 15-minute speedboat transfer.

15                                                                                                                                                                                                                                                                                                                                                                                                                16
CITYNEWS - City Developments Limited
FUTURENOW                                                                                                                                                                                                                                                                                                            FUTURENOW

BUILDING
                                                                                                    The ninth edition of the Annual Global Compact                                                 CDL Chief Sustainability Officer Ms Esther An also spoke as a panelist   During the Summit, prizes for the CDL-GCNS Young CSR Leaders
                                                                                                    Network Singapore (GCNS) Summit was held on                                                    at the plenary session “Sustainable Financing and Responsible            Award 2017 were also given out. Team Viride from Singapore
                                                                                                                                                                                                   Investment in Asia”. Drawing from CDL’s experience in launching          Management University (SMU) emerged champions with their
                                                                                                    29 and 30 August 2017 at the Suntec Singapore

A FUTURE
                                                                                                                                                                                                   the first green bond by a Singapore company, Ms An spoke on              effective delivery of human-centric and innovative environmental
                                                                                                    Convention & Exhibition Centre, graced by Guest-                                               the importance of a proactive approach towards sustainability            strategies. Aimed at nurturing future generations of sustainability
                                                                                                    of-Honour (GOH) Mr Chan Chun Sing, Minister in                                                 integration, alongside increasing recognition of a strategic             champions, the award, in its seventh edition, received record
                                                                                                    the Prime Minister’s Office and Secretary-General                                              connection between sustainability and business performance.              participation this year.

ECONOMY
                                                                                                    of the National Union Congress. Around 250
                                                                                                    participants attended the Summit.

                                                                                                                                                                                                   WOMEN4GREEN:
                                                                                                                                                                                                   SUSTAINABILITY NETWORK
                                                                                                                                                                                                   IN THE SPOTLIGHT
                                                                                                                                                                                                   CDL launched its inaugural Women4Green Impact Series,
                                                                                                                                                                                                   which was held at the Singapore Sustainability Academy
                                                                                                                                                                                                   (SSA) in August 2017.

                                                                                                                                                                                                                                                                                                                          Themed around ‘Sustainable
During the plenary session “Businesses Growing Together for our Future Economy”, CDL CEO Mr Grant Kelley shared from a developer’s perspective, the leading role of the built sector in building                                                                                                                          Fashion’, to shed light on
Singapore’s future economy towards a smart nation.                                                                                                                                                                                                                                                                        the environmental impact
                                                                                                                                                                                                                                                                                                                          of the apparel industry,
                                                                                                                                                                                                                                                                                                                          the event attracted more
                                                                                                                                                                                                                                                                                                                          than 100 women attendees
Themed “Better Businesses Together for the Future Economy”,                                         One of the highlighted measures was Singapore Exchange’s 2018                                                                                                                                                         from diverse backgrounds,
participants engaged in interactive conversations on how adopting                                   regulation for listed companies to produce sustainability reports. A                                                                                                                                                  including bankers,
                                                                                                                                                                                                                                                                                                                          lawyers, academics, senior
sustainable policies and practices presents business opportunities                                  forerunner in sustainability reporting, CDL published Singapore’s                                                                                                                                                     executives from both public
                                                                                                                                                                                                                                                                                                                          and private sectors, non-
in the Future Economy — in particular, how sustainability measures                                  first Global Reporting Initiative Application Level checked report                                                                                                                                                    governmental organisations
can make Singapore businesses more responsible and competitive                                      from as early as 2008.                                                                                                                                                                                                (NGOs), youths and
                                                                                                                                                                                                                                                                                                                          undergraduates.
globally. These measures will improve business efficiency and
through constructive collaborations, better engage enlightened
investors and consumers.

                                                                                                                                                                                                   Established by CDL, Women4Green is the first Singapore network           negative impact for a more sustainable future. The session
                                                                                                                                                                                                   for women in sustainability. Women4Green brings together women           provided an inspiring take on how one can shop for and dispose
                                                                                                                                                                                                   executives in the green industries who contribute to climate action,     of their clothing responsibly.
                                                                                                                                                                                                   sustainable business, and social change. It harnesses the collective
                                                                                                                                                                                                   knowledge and expertise of these female leaders to empower               Ms Esther An, CDL Chief Sustainability Officer, said, “It is our
                                                                                                                                                                                                   other women to incite meaningful change in areas such as green           privilege to have successful female leaders from various
                                                                                                                                                                                                   building, technology, energy, financing, consultancy and NGOs.           industries to voice their support of Women4Green’s mission. It
                                                                                                                                                                                                                                                                            is not a rigid society but a platform to enable knowledge sharing
                                                                                                                                                                                                   Speaking at the Women4Green inaugural event was Ms Mabel                 about sustainability through online sharing and regular events.
                                                                                                                                                                                                   Wong, Executive Director of CSR Asia and Women4Green
                                                                                                                                                                                                   Ambassador for Australia and New Zealand who presented the               By attending Women4Green events on topics related to
                                                                                                                                                                                                   Ethical Fashion Report 2017, published by Baptist World Aid              sustainable lifestyle and business practices, participants will
                                                                                                                                                                                                   Australia. It reports and ranks 106 fashion brands based on their        benefit from the collective knowledge and expertise of selected
                                                                                                                                                                                                   environmental and social impact.                                         subjects and female leaders. The learning and exchange of
                                                                                                                                                                                                                                                                            knowledge and expertise will inspire participants to drive change
                                                                                                                                                                                                   Ms Wong Xin Yi, Sustainability Manager of H&M Southeast Asia,            through adopting and promoting best practices, innovations
GOH Mr Chan Chun Sing, Minister in the Prime Minister’s Office and Secretary-General of the National Trades Union Congress (second from left), CDL CEO Mr Grant Kelley (second from right),        also shared insights on what a fashion company with a global             and engagement in support of the United Nations Sustainable
CDL Chief Sustainability Officer Ms Esther An (first from right) and GCNS President Ms Goh Swee Chen (first from left), presenting Team Viride from SMU — Winner of the CDL-GCNS Young CSR
Leaders Award 2017 — with their prizes.                                                                                                                                                            presence like H&M can do to counter the fashion industry’s               Development Goals.”

17                                                                                                                                                                                                                                                                                                                                               18
HEARTWORK                                                                                                                                                                                                                                                                                                                  HEARTWORK

                                                                                                                                                                                                  Construction workers cheering enthusiastically for their teammates.     Woh Hup (in white) emerged as champion of the CDL EHS Cup soccer tournament.

                                                                                                                                                                                                  Established in 2005, the CDL 5-Star EHS Awards recognise
                                                                                                                                                                                                  exemplary builders and workers who have excelled in                      WINNERS OF CDL 5-STAR EHS AWARDS 2017
                                                                                                                                                                                                  the CDL 5-Star EHS Assessment System. The Assessment
                                                                                                                                                                                                  System and Awards have been instrumental in influencing
                                                                                                                                                                                                  CDL’s builders and consultants to monitor and improve
                                                                                                                                                                                                                                                                                     CDL EHS EXCELLENCE AWARD
                                                                                                                                                                                                                                                                              recognises builders who have excelled in the CDL 5-Star
                                                                                                                                                                                                  their EHS performance.                                                          EHS Assessment System over a one-year period

                                                                                                                                                                                                  At the event, Minister of State for Manpower Mr Sam Tan,
Minister of State for Manpower Mr Sam Tan (second row, fifth from left), Workplace Safety and Health Council Executive Director Mr Patrick Han (second row, first from left), CDL Group General                                                                           Dragages Singapore Pte Ltd                     The Venue Residences
Manager Mr Chia Ngiang Hong (second row, fifth from right), and other CDL representatives with the winners of the CDL 5-Star EHS Awards.
                                                                                                                                                                                                  who was the Guest-of-Honour, presented the CDL 5-Star                                                                      and Shoppes
                                                                                                                                                                                                  EHS Awards to the winners. The awards presentation was

CDL INTRODUCES
                                                                                                                                                                                                  witnessed by seven of CDL’s builders (Daewoo Engineering
                                                                                                    On 1 October 2017, CDL distributed over 1.5 tonnes
                                                                                                                                                                                                  & Construction Co., Ltd., Dragages Singapore Pte Ltd,
                                                                                                    of fortified rice to some 300 construction workers                                                                                                                            CDL WORKERS’ WELFARE AWARD
                                                                                                                                                                                                  Kajima Overseas Asia Pte Ltd, Nakano Singapore (Pte) Ltd,                  honours builders who have devoted excellent effort to

HEALTHY EATING
                                                                                                    who were present at the annual CDL 5-Star                                                     Ssangyong Engineering & Construction Co Ltd, Teambuild                    ensure workers’ welfare, including caring for their health,
                                                                                                    Environmental, Health and Safety (EHS) Awards                                                 Construction Pte Ltd, and Woh Hup (Private) Limited).                             safety, living conditions and well-being

TO CONSTRUCTION
                                                                                                    and EHS Cup 2017 held at the Singapore University                                             Currently, about 1,600 construction workers are employed
                                                                                                    of Technology and Design.                                                                     by builders at five CDL worksites.
                                                                                                                                                                                                                                                                          Dragages Singapore Pte Ltd                      The Venue Residences
                                                                                                                                                                                                                                                                                                                              and Shoppes

WORKERS
                                                                                                                                                                                                  The finale soccer match between workers from Dragages
                                                                                                                                                                                                  Singapore Pte Ltd and Woh Hup (Private) Limited was also                Nakano Singapore (Pte) Ltd                           The Criterion
                                                                                                                                                                                                  held at the event. They were the two teams left standing
                                                                                                                                                                                                  from the CDL EHS Cup, a series of soccer matches that CDL             Teambuild Construction Pte Ltd                       The Brownstone
                                                                                                                                                                                                  organised in the past few months to foster camaraderie and
                                                                                                                                                                                                  promote a healthy lifestyle among workers. The team from

       “
    CDL AND OUR JV PARTNER HONG REALTY ARE FOR
 CDL, THE SAFETY AND WELL-BEING OF WORKERS HAVE
                                                                                                    According to the World Food Programme, fortification increases the
                                                                                                    content of essential vitamins and minerals in rice so as to improve
                                                                                                                                                                                                  Woh Hup (Private) Limited eventually won the cup.
                                                                                                                                                                                                                                                                                       CDL SAFE WORKER AWARDS
                                                                                                                                                                                                                                                                         honour workers across CDL’s worksites who have demonstrated
                                                                                                    its nutritional quality, thereby helping to fight micronutrient                               In addition, National Environment Agency, PUB and social
 ALWAYS BEEN A PRIORITY. AS A PROPERTY DEVELOPER,                                                                                                                                                                                                                                exemplary safety awareness and knowledge
                                                                                                    deficiencies.1                                                                                enterprise 45RICE set up exhibits and games booths to
 WE CAN AND MUST DO OUR PART TO PROMOTE BETTER                                                                                                                                                    help workers understand and adopt good habits on dengue
 SAFETY AND HEALTH AT OUR WORKSITES BY ENGAGING                                                                                                                                                   prevention, hygiene, nutrition, environmental cleanliness                      Alom Soha                                      Coco Palms
OUR VALUE CHAIN. FOR MORE THAN TWO DECADES, CDL                                                                                                                                                   and water conservation.                                                  Woh Hup (Private) Limited
  HAS DRIVEN EHS EXCELLENCE AT OUR WORKSITES SO
                                                                                                                                                                                                  Over the years, CDL has driven EHS excellence at its                          Islam Nozrul                                       D’Nest
  THAT OUR WORKERS, WHO ARE THE FOUNDATION OF                                                                                                                                                                                                                                Daewoo Engineering &
                                                                                                                                                                                                  worksites and across its supply chain. In addition to the
OUR BUILDING INDUSTRY, CAN RETURN HOME SAFELY TO                                                                                                                                                                                                                              Construction Co Ltd
                                                                                                                                                                                                  CDL 5-Star EHS Awards, in 2016, CDL galvanised 24 of its
                 THEIR LOVED ONES.                                                                                                                                                                key builders and consultants to sign a ‘Pledge Towards
                                                                                                                                                                                                                                                                                     Jual                                      The Criterion
                                                                                                                                                                                                  Vision Zero through Safe Design — Safe Practices — Safe                  Nakano Singapore (Pte) Ltd
 BEYOND HIGH EHS STANDARDS, IT IS ALSO IMPORTANT                                                                                                                                                  Culture’ at the annual CDL 5-Star EHS Awards. It marked the
 TO ENHANCE WORKERS’ WELL-BEING HOLISTICALLY. BY                                                                                                                                                  first time a developer in Singapore rallied collective action         Mahendramani Arulanandham                               New Futura
                                                                                                                                                                                                  along its supply chain to support the Construction Industry             Dragages Singapore Pte Ltd
  DISTRIBUTING FORTIFIED RICE TO THE WORKERS, WE
                                                                                                                                                                                                  Workplace Safety and Health Action Plans. This followed
 HOPE TO INTRODUCE THEM TO A HEALTHIER AND MORE                                                                                                                                                   two similar rounds of pledge signing initiated by CDL, the                  Rajkumar Sathish                               The Brownstone
            NUTRITIOUS EATING OPTION.
                                                                    ”                                                                                                                             ‘Pledge for Zero’ Commitment Charter for zero accidents,
                                                                                                                                                                                                  zero injuries and zero environmental pollution in 2010 and
                                                                                                                                                                                                                                                                         Teambuild Construction Pte Ltd

                                                                                                                                                                                                                                                                          Velayutham Karthikeyan                          The Venue Residences
                        MR CHIA NGIANG HONG                                                                                                                                                       the pledge of commitment to uphold workers’ well-being,
                                                                                                    CDL staff (second and third from left) and a 45RICE representative (in yellow) distributing                                                                           Dragages Singapore Pte Ltd                          and Shoppes
                     CDL GROUP GENERAL MANAGER                                                      fortified rice to construction workers.                                                       safety and health in 2014.

1
    http://innovation.wfp.org/project/rice-fortification

19                                                                                                                                                                                                                                                                                                                                                       20
HEARTWORK                                                                                                                                                                                                                                                                                         HEARTWORK

                                                                                                                                                                          HONG LEONG HONOURS
                                                                                                                                                                          LEE KUAN YEW WITH
                                                                                                                               CDL Group General Manager Mr Chia
                                                                                                                               Ngiang Hong (third from right); CDL
                                                                                                                               Chief Strategy Officer and Head, Asset
                                                                                                                               Management Mr Kwek Eik Sheng
                                                                                                                               (second from right); CDL Executive
                                                                                                                                                                          CAMBRIDGE SCHOLARSHIP
                                                                                                                               Vice President, Property & Facilities
                                                                                                                               Management Mr Daniel T’ng (third from      Hong Leong Foundation, the philanthropic arm of Hong Leong Group
                                                                                                                               left); CDL Head of Corporate Secretarial
                                                                                                                               Services Ms Catherine Loh (second          Singapore recently made a contribution of £300,000 (S$525,870) to the
                                                                                                                               from left); CSC President Ms Foo Chui
                                                                                                                               Mui (left); Assisi Hospice                 newly launched Lee Kuan Yew (LKY) Fitzwilliam Fund.
                                                                                                                               CEO Ms Choo Shiu Ling (right);
                                                                                                                               Franciscan Missionaries of the Divine
                                                                                                                               Motherhood Sister Carmen (centre);
                                                                                                                               with two young volunteers Alexis and
                                                                                                                               Faith dressed up as Chang’E and jade
                                                                                                                               rabbit from the Mid-Autumn Festival
                                                                                                                               story, brought much cheer to patients
                                                                                                                               in the wards as they went round
                                                                                                                               distributing lanterns and mooncakes.

MID-AUTUMN JOY
UNDER THE MOONLIGHT
City Sunshine Club (CSC), the employee volunteer
                                                                                                                                                                                                                                                                               Pictured here at a private
arm of CDL, is a long-time partner of Assisi Hospice                                                                                                                                                                                                                           dinner held at the British High
                                                                                                                                                                                                                                                                               Commissioner’s Residence, Eden
and each year, volunteers would spend an evening                                                                                                                                                                                                                               Hall is (from left) Dr Lee Suan Yew,
to bring cheer and laughter to the day-care and                                                                                                                                                                                                                                youngest brother of the late
                                                                                                                                                                                                                                                                               Mr Lee Kuan Yew; Mrs Nicola
in-ward patients of Assisi Hospice as they celebrate                                                                                                                                                                                                                           Padfield, Master of Fitzwilliam
                                                                                                                                                                                                                                                                               College; and Mr Kwek Eik Sheng,
the Mid-Autumn Festival together.                                                                                                                                                                                                                                              Governor of Hong Leong
                                                                                                                                                                                                                                                                               Foundation. Mr Kwek is also
                                                                                                                                                                                                                                                                               CDL Chief Strategy Officer and
                                                                                                                                                                                                                                                                               Head of Asset Management.
On 22 September, CDL Group General Manager Mr Chia Ngiang
Hong and CDL Chief Strategy Officer and Head, Asset Management
Mr Kwek Eik Sheng joined Assisi Hospice’s CEO Ms Choo Shiu Ling                                                                                                           Established by Fitzwilliam College, Cambridge, the LKY Fitzwilliam         “The late Mr Lee was a source of inspiration for many of us.
and accompanying staff to distribute mooncakes to the patients                                                                                                            Fund that was launched in Singapore at The Arts House (formerly           He made his stamp by shaping our nation and business values.
and wished them good health. After distributing the mooncakes                                                                                                             Old Parliament House) offers opportunities to support and promote         Our support towards the Lee Kuan Yew Fitzwilliam Fund is an
and lanterns, they joined CSC volunteers to belt out familiar tunes                                                                                                       intellectual exchanges between Singapore and the well renowned            extension of us remembering and honouring his legacy of being
with patients joining in the singing. Besides the melodious songs,                                                                                                        University of Cambridge. It also supports graduate scholarships for       Singapore’s most celebrated alumnus of Cambridge University.
there was also a magic show and dance performance by the                                                                                                                  students of the College.                                                  We are investing in the next generation of outstanding
volunteers. Towards the end of the celebration, CSC volunteers                                                                                                                                                                                      young scholars and the long-term future of Singapore,”
accompanied patients for a stroll in the sky garden within the new                                                                                                        Hong Leong Foundation’s donation will be used to establish the LKY        said Mr Kwek Leng Beng, a Governor of Hong Leong Foundation.
Assisi Hospice building.                                                                                                                                                  Hong Leong Masters Scholarships at Fitzwilliam, a five to ten year        He is also the Executive Chairman of CDL and Hong Leong
                                                                                                                                                                          graduate programme subject to variables such as the student’s             Group Singapore.
This year marks the tenth year that CSC has worked closely with                                                                                                           study of choice and length of courses. The programme will also
Assisi Hospice to organise the Mid-Autumn Festival celebration.                                                                                                           enable candidates to undertake part of their studies in Singapore         “Fitzwilliam College really values our historic and continuing
                                                                                                                                                                          or an academic project that involves a joint collaboration between        relationship with Singapore, and I am delighted that we have
Assisi Hospice plays a critical role in helping to care for patients with   CDL volunteers accompanying the patients out on an evening stroll at Assisi Hospice’s         Cambridge and a university here.                                          been able to recognise this by building on the memory of Mr
life-limiting illness, regardless of age, race, religion. As a charity,     new premise.                                                                                                                                                            Lee Kuan Yew, through the inauguration of a Fund that will
Assisi Hospice depends on public donations in order to sustain its                                                                                                        Fitzwilliam is one of 31 colleges of the University, of which the late    nurture this relationship for a new generation of scholars,” said
impactful and far-reaching work. The generous support from donors                                                                                                         Mr Lee Kuan Yew was an alumnus. The late former Prime Minister,           Mrs Nicola Padfield, Master of Fitzwilliam College, Cambridge.
and sponsors means all its patients can receive the care they need.                                                                                                       seen as the “Founding Father” of modern Singapore, governed the           She thanked Hong Leong Foundation for its contribution to the
If you would like to volunteer or donate, please visit Assisi Hospice                                                                                                     country for three decades. He graduated from Fitzwilliam College          Masters scholarship.
official website at http://www.assisihospice.org.sg/.                                                                                                                     with a “starred First” (or First Class Honours with Distinction) in Law
                                                                                                                                                                          before embarking on his long and illustrious political career in the
                                                                                                                                                                          1950s. He was elected as an Honorary Fellow of Fitzwilliam College
                                                                                                                                                                          in 1969. Mr Lee died at age 91 on 23 March 2015.

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LIVELIFE                                                                                                                                                                                                                                                           LIVELIFE

BRINGING FINER TASTES TO YOUR PALATE
Located at the premium shopping district of Orchard Road, Palais Renaissance has established itself as
                                                                                                                                                 WINTER WONDERLAND
an exclusive shopping destination that provides an intimate respite amidst the hustle and bustle of the
city. It is a treasure trove for the who’s who of the local and expatriate community, trendsetters and well-                                     CHRISTMAS AT SOUTH
                                                                                                                                                 BEACH AVENUE
heeled travellers who traverse the hallways for a taste of luxury living and deluxe lifestyle offerings.

Housing an assembly of exclusive boutiques and choice names, Singapore’s definitive address to luxurious offerings can be found only at
Palais Renaissance.
                                                                                                                                                 Decked out in Scandinavian-inspired white winter wonderland
Read on about its latest additions, bringing to you finer tastes in life.
                                                                                                                                                 Christmas setting, South Beach Avenue celebrates her first
                                                                                                                                                 anniversary and the most anticipated time of the year with
                                                                                                                                                 one of Singapore’s largest Christmas Art Market.
     Frunatic
     WWW.FRUNATIC.COM
     #B1-06 | Tel: 6270288
     Mon – Sun:
     9am to 3pm, 5pm to 9pm

     First-of-its-kind fine dining wellness restaurant Frunatic             A 40-seater fine dining restaurant to promote healthy and
     places emphasis on strictly natural therapeutic meals                  therapeutic eating in Singapore, Frunatic has a zero-tolerance
     that help maintain, restore and improve health                         policy and absolute restriction to dairy, gluten, wheat, trans-
     aspirations of individuals, providing the option of                    fat, additives, cholesterol and all forms of preservatives.
     specially-designed combination menu, in addition to its
     Therapeutic Wellness Meals.                                            Wholesome Savour #B1-06A                                                                                                                                    From 15 to 17 December 2017, South
                                                                                                                                                                                                                                        Beach Consortium and The Local People
     Designed by a team of wellness professionals comprising                Frunatic also provides other healthy dining options such as                                                                                                 (TLP) will come together to transform South
     Nutritionists, Dieitians, Naturopathic Doctors, Traditional            cold-pressed juices, dehydrated snacks, raw nutrient dense                                                                                                  Beach Avenue into an art, design, food and
     Chinese Medication Physicians, and renowned Chefs, the                 cakes, and enzyme drinks with a chill-out delicatessen,                                                                                                     music destination with Santa’s Workshop
     meals are conceptualised to ensure harmony in nutrition,               Wholesome Savour at the foyer of Basement 1.                                                                                                                @ The South Pole. Local communities and
     taste and presentation. Energising super foods, natural                                                                                                                                                                            visitors can look forward to revel in a huge
     ingredients and restorative traditional herbs are formulated                                                                                                                                                                       one-stop Christmas Party for everyone in
     with expert culinary techniques, making meals beneficial to
                                                                                                                                                                                                                                        the heart of the Civic District while exploring
     diners while retaining its full nutritional value.
                                                                                                                                                                                                                                        the unique space of the South Beach mixed-
                                                                                                                                                                                                                                        use development.

     The Writing Club
     THEWRITINGCLUB.COM.SG
     #02-10 | Tel: 93628626
     Mon – Sun:
     12pm to 12am, last order at 11.30pm

     Owned and managed by husband-and-wife team, Soo                        “Writing Club” is the code-name for a gang of whisky-loving        Be a part of the longest communal dining experience in the           You can also do your bit for charity by participating in a series of
     San and Sherin, The Writing Club is home to an extensive               friends, to lead their significant others to think they were our   basement plaza while savouring mouth-watering treats before          fundraising carnival games by The Social Co. All proceeds will go
     collection of over 500 whiskies from all over the world.               sharpening their literary skills, when in fact they gather for
                                                                                                                                               returning to the tents on the street level to get your fill of the   on to benefit the nine non-profit organisations The Social Co. is
                                                                            a night of whisky tasting. Starting from $16 per pour, most
                                                                                                                                               all the festive gift shopping featuring a wide range of              supporting — including Association for Persons with Special Needs
     An avid collector of the dubbed “liquid gold” for more than            of the whisky collection hails from Scotland with the rest
     ten years, Soo San pursues prized vintages from distilleries,          originating from different parts of the world. Novices and         Singapore-made and locally-designed products and quirky              (APSN), Samaritans of Singapore (SOS) and Cerebral Palsy Alliance
     whiskey shops to small liquor dealers and grocery stores in            aficionados alike who would like to experience “Whiskey            knick-knacks. Popular F&B tenants such as Vatos Urban Tacos          Singapore (CPAS).
     remote areas across the world, which soon filled up the shelves        Flight”, either conducted blind or open selection, may start       and Quaich Bar will also be popping-up during the event.
     in his home. This gave birth to Singapore’s newest whisky-             out with the minimum of three tasting portions of 20ml each,       Get crafty and creative with Christmas workshops such as             Find out more about the magical event on Facebook.
     library that sits 36 comfortably, in a posh and cosy setting.          costing $68.                                                       Fondant Cookie Bar and Christmas Calligraphy; and a DIY customised
                                                                                                                                               gift wrapping paper station.

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