CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 CORPORATE GOVERNANCE 66 67 INVESTOR RELATIONS RISK MANAGEMENT Information Technology (IT) Risk With the increased reliance on information systems and technology as a business enabler across our businesses, we recognise that a service disruption of critical IT systems or malicious and deliberate attempts of hackers to breach our IT systems could adversely affect the Group’s business continuity and reputation. Cyber Threat The Group recognises that cyber threat remains a key concern as attackers have become increasingly creative with attack methods and increasingly destructive payloads that better target system vulnerabilities. We manage this risk by: a) Maintaining an IT security framework to address evolving IT security threats such as hacking, malware, mobile threats and loss of data. Measures and considerations have also been taken to safeguard against loss of information, data security and prolonged service disruption of critical IT systems. b) Dedicating IT expertise to keep abreast of the latest developments, innovations and threats in technology and assessing their impact and risks. c) Conducting Vulnerability and Penetration Testing (VAPT) and guided self-assessments to identify IT security gaps. d) Leveraging on threat intelligence and advanced security analytics to detect potential breaches. e) Conducting of training, including assessment exercises, to educate and heighten our users’ awareness to cyber threats. f) Maintaining a cyber threat incident response protocol and disaster recovery plan. The Group also carries out disaster recovery plan testing at least once annually. CDL is committed to building investor confidence and trust through open dialogue and effective bilateral communication with our shareholders and the investment community. Our Investor Relations (IR) Policy, available on the CDL website (cdl.com.sg), outlines the principles and framework in which we communicate and engage with investors, analysts and stakeholders. Our website also provides contact details for investors to share feedback or queries. EFFECTIVE COMMUNICATION We believe in timely and clear disclosure of pertinent information to provide investors with a better understanding of the Group’s strategic and material developments through regular updates on our strategies, operations and financial performance shared via multiple platforms. The ‘Investor Relations’ section of our website is the key source of corporate and financial information such as the Group’s financial results, investor presentations, annual and sustainability reports, media statements, Annual General Meeting (AGM)-related materials, including AGM minutes and full voting results, as well as other material announcements – which are also disseminated on SGXNet (sgx. com). In addition, our website and social media channels (LinkedIn, Twitter and Instagram) highlight the latest updates on the Group’s business milestones. Investors can subscribe to email alerts on the CDL website or follow our social media channels. ACTIVE ENGAGEMENT The CDL key management and IR team proactively engage with the investment community regularly through various platforms such as our AGM, one-on-one and group investor meetings, conferences and site visits. To update the market on our financial and operational performance, we hold results briefings for research analysts and media when announcing halfyear and full-year results. Investors and other stakeholders can also attend these briefings via ‘live’ webcasts. A recording of the management presentation is also posted on the CDL website thereafter. Due to COVID-19 restrictions and safe management measures, some investor meetings, including our AGM in April 2022, were held virtually. With the easing of restrictions and reopening of borders, we saw a gradual return to in-person meetings and investor events in the second half of the year. In 2022, we connected with around 100 institutional investors to help them understand our strategic focus and key initiatives to enhance and unlock shareholder value. To showcase our residential product offerings and the unique selling points of our new launches, we regularly hosted residential showflat tours for investors. Apart from facilitating corporate access for investors, the IR team also maintains regular communication with close to 20 sell-side equity research analysts covering our stock. Besides our bi-annual results announcements, CDL continues to provide regular quarterly updates on our business performance and operations. This proactive approach remains a critical aspect of our IR engagement. In line with the global climate change agenda, investors continued to place emphasis on Environmental, Social and Governance (ESG) considerations in their investment evaluation matrix. Some ESG topics discussed include the Group’s climate action strategy, Board structure, diversity, equity and inclusion in the workplace. These conversations provided useful insights into the top ESG risk concerns that matter to our investors. Share Ownership^ Total: 906.9 million shares 2022 Share Price Performance Notes: Excludes treasury shares * Including shares held by brokers and undisclosed holdings. ^ As at 31 December 2022. Geographic Distribution^ Investor Type^ Hong Leong Investment Holdings Pte. Ltd. Institutions Retail & Others* 48.6% 906.9 MILLION SHARES 20.5% 30.9% Singapore Rest of the world/ Unidentified holdings UK US Europe (ex UK) Asia (ex Singapore) 5.2% 4.7% 4.4% 15.8% 57.6% 12.3% 906.9 MILLION SHARES 130% 125% 120% 115% 110% 105% 100% 95% 31 Dec 21 08 Feb 22 15 Mar 22 04 Jul 22 19 Oct 22 20 Apr 22 10 Aug 22 24 Nov 22 30 May 22 14 Sep 22 30 Dec 22 CDL’s share price closed at $8.23 on 31 December 2022 – a 20.9% increase, making our stock one of the best performing STI constituents for the year. Considering the total dividend of 28.0 cents per share declared for FY 2022, CDL’s Total Shareholder Return (TSR) for the year was 25.0%. CDL 20.9% FTSE ST All-Share 0.2% Straits Times Index (STI) 4.1%
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