Singapore, Jan 26, 2026, 15:14 SGT — Regular session
- City Developments slipped 0.2% to S$9.19 in afternoon trading, falling short of Friday’s closing price
- Attention centers on Thursday’s MAS policy review to spot any changes in the Singapore dollar policy band
- According to an exchange filing, CDL is set to release its annual results on Feb. 27
City Developments Ltd shares edged down 0.22% to S$9.19 by 3:10 p.m. local time Monday, slipping from Friday’s close at S$9.21. Trading volume hit roughly 1.77 million shares. (SG Investors)
This matters as Singapore’s policy signal is expected this week, and property stocks usually jump quickly when funding conditions appear poised to change.
The Singapore Exchange remains open until 5 p.m., pausing briefly at midday. (Tradinghours)
Singapore is widely expected to hold monetary policy steady at Thursday’s review, according to a Reuters poll, though some analysts anticipate tightening down the road. Tay Qi Hang, an analyst at Economist Intelligence Unit Asia, pointed to recent “growth outperformance” alongside stable core inflation, easing immediate pressure to loosen policy. Edward Lee, Standard Chartered’s chief economist, said there’s “no urgency” for action this month, but Bank of America economists flagged a possibility of tightening as soon as this review. The Monetary Authority of Singapore manages policy primarily through the Singapore dollar nominal effective exchange rate (S$NEER) band, effectively guiding the currency against a basket rather than setting a single interest rate. (Reuters)
For CDL, borrowing costs, buyer demand, and valuations all play a crucial role. The group spans development, investment properties, and hotels, carrying the typical debt market exposure that comes with large balance sheets.
Investors are keeping an eye on whether sustained elevated global rates will push mortgage costs higher domestically, regardless of whether MAS maintains its current currency policy.
CDL is set to publish unaudited results for the year ending Dec. 31, 2025, ahead of trading on Feb. 27. The company also scheduled a briefing at 10 a.m. that morning, according to an exchange filing. (SGX Links)
Traders will be scouring for clues on project sales momentum, updates on divestments, and how management intends to tackle leverage amid ongoing refinancing cycles.
But the risk is clear: should MAS catch markets off guard or global bond yields spike, developers could face a double whammy — borrowing costs rising and demand from potential buyers cooling off.
Thursday’s MAS statement arrives next (Jan. 29), followed by CDL’s results and briefing on Feb. 27.
