Sustainability Report 2011
City Developments Limited

Summary of CDL Performance Data

CDL’s financial information is described in more detail in our Annual Report 2010. Current and previous reports are available at www.cdl.com.sg.

Economic

5-Year Financial Highlights

Year20062007200820092010
RevenueS$2,547mS$3,106mS$2,945mS$3,273mS$3,129m
Profit before taxS$692mS$955mS$834mS$832mS$1,032m
Profit for the year attributable to owners of the CompanyS$352mS$725mS$581mS$593mS$749m
Net gearing ratio0.400.480.480.400.29
Return on equity7.4%13.9%10.7%9.9%11.7%
Net asset value per shareS$5.21S$5.72S$5.97S$6.57S$7.03
Basic earnings per share37.0 cents78.3 cents62.5 cents63.8 cents80.9 cents
Year     
a) Ordinary dividend (gross) per share
• final7.5 cents7.5 cents(1)7.5 cents(1)8.0 cents(1)8.0 cents(2)
• special interim7.5 cents10.0 cents---
• special final10.0 cents12.5 cents(1)--10.0 cents(2)
b) Preference dividend (net) per share3.90 cents3.90 cents3.90 cents (1)3.90 cents (1)3.90 cents (1)
Notes:
  • (1)Dividends declared were tax-exempt (one-tier).
  • (2)Final and special final tax-exempt (one-tier) ordinary dividends proposed for financial year ended 31 December 2010 had been approved by the ordinary shareholders at the Annual General Meeting held on 20 April 2011.

Capital Management

 As at 31/12/10As at 31/12/09
Cash and cash equivalentsS$1,874mS$981m
Net borrowingsS$2,346mS$3,053m
Net gearing ratio(a)0.290.40
Net gearing ratio if fair value gains on investment properties are taken in0.200.27
Average interest rate of borrowings2.1% to 2.2%2.2% to 2.5%
Interest cover ratio20.7 times14.5 times
Notes:
  • (a)Excludes fair value gains on investment propeties as the Groupís accounting policy is to state its investment properties at cost less accumulated depreciation and impairment losses.

Net Gearing

SOCIAL

 2007200820092010
Annual employee turnover rate16.8%17.1%10.7%13.7%
Employee satisfactionN.A.≥ 90%≥ 90%≥ 90%
Days of medical leave taken≤ 4≤ 4≤ 4≤ 4
Gender Diversification: % of females as Heads of Department55%57%≤ 454.5%
Average years of service per employee8.38.18.48.8
Total CSR and Environment-related training hours1,1931,075>3,0003,694
New developments to be well-ranked on CONQUASYesYesYesYes
All new developments to be certified BCA Green Mark Gold and aboveYesYesYesYes*
Employee participation rate per year50%66%85%60%
Employee volunteer hours per year2,2422,6445,5242,894
Health and Safety:
- At the Corporate Office: Injury rate and occupational disease
0000
- At CDL work sites: Accident Frequency Rate at CDL Work Sites (Number of workplace accidents per million manhours worked)
0.40.520.380.23
Injury Rate at CDL Work Sites (Number of fatal and non-fatal workplace injuries per 100,000 persons employed) 11827310063
*All new developments to be certified BCA Green Mark GoldPLUS and above in 2011

ENVIRONMENTAL

 2007200820092010
Energy Used at Work Sites kWh/m255434627
Water Used at Work Sites m3/m20.70.680.81.1
Construction Waste Generated at Work Sites kg/m265.959.8761.746.5
Energy Used at all CDL Commercial Buildings kWh/month/m218.85618.83917.70416.727
Energy Used at 5 CDL Industrial Buildings kWh/month/m210.4439.3649.7459.012
Water Used at all CDL Commercial Buildings m3/month/m20.1420.1610.1880.14
Water Used at 5 CDL Industrial Buildings m3/month/m20.0880.0890.0880.082
Paper Recycled at CDL Buildings kg417,074384,047320,233374,050
Tenants Participation Rate for Paper Recycling at CDL Buildings %8188>90%>90%
Energy Used at the Corporate Office kWh634,198569,640557,718527,972
Paper Used at the Corporate Office (Number of A4 reams)5,4104,7964,3953,774
Total Energy Used kWh68,948,06065,421,73761,495,67471,408,788
Total Carbon Emissions tonnes CO236,14434,36730,92434,221