{
 "company": "GuocoLand Limited",
 "ticker": "SGX:F17",
 "source_page": "https://smidresearch.com/companies/guocoland/",
 "information_cutoff": null,
 "licence": "Public evidence-library figures as filed by the issuer and recomputed by SMID Research; cite the page and its information cut-off. No rating, fair value, price target or recommendation is included. Not investment advice.",
 "tables": [
  {
   "index": 1,
   "section": "What the group does",
   "caption": "FY2026 reporting units, as the audited segment note reports them. Source: FY2026 annual report, segment note (p.156).",
   "headers": [
    "Reporting unit",
    "FY2026 external revenue",
    "FY2026 profit before tax",
    "FY2026 segment assets"
   ],
   "rows": [
    [
     "Singapore",
     "S$933.570m",
     "S$366.570m",
     "S$9,020.703m"
    ],
    [
     "China",
     "S$255.259m",
     "(S$241.095m)",
     "S$1,319.181m"
    ],
    [
     "Malaysia",
     "S$176.718m",
     "S$15.786m",
     "S$573.007m"
    ],
    [
     "Unallocated",
     "S$68.416m",
     "(S$30.038m)",
     "S$462.462m"
    ],
    [
     "Group",
     "S$1,433.963m",
     "S$111.223m",
     "S$11,375.353m"
    ]
   ]
  },
  {
   "index": 2,
   "section": "FY2026 results",
   "caption": "Five-year summary as the issuer reported it, S$m unless stated. Source: FY2026 annual report five-year summary (p.7).",
   "headers": [
    "Line",
    "FY2022",
    "FY2023",
    "FY2024",
    "FY2025",
    "FY2026"
   ],
   "rows": [
    [
     "Revenue",
     "965.514",
     "1,544.432",
     "1,819.751",
     "1,916.402",
     "1,433.963"
    ],
    [
     "Operating profit",
     "359.464",
     "282.013",
     "320.979",
     "298.753",
     "125.019"
    ],
    [
     "Profit before tax",
     "525.507",
     "324.901",
     "171.842",
     "172.560",
     "111.223"
    ],
    [
     "Profit attributable to owners",
     "392.728",
     "207.088",
     "128.531",
     "107.050",
     "95.199"
    ],
    [
     "Dividend per share (cents)",
     "6.0",
     "6.0",
     "6.0",
     "7.0",
     "8.0"
    ],
    [
     "Net asset value per share (S$)",
     "3.86",
     "3.85",
     "3.90",
     "3.90",
     "3.95"
    ],
    [
     "Total assets",
     "12,328.413",
     "12,009.820",
     "12,529.882",
     "12,375.263",
     "11,375.353"
    ],
    [
     "Loans and borrowings",
     "5,646.771",
     "5,114.224",
     "5,333.978",
     "5,483.913",
     "4,445.864"
    ],
    [
     "Cash and cash equivalents",
     "1,084.925",
     "890.444",
     "991.841",
     "761.332",
     "754.677"
    ],
    [
     "Net cash from operating activities",
     "n.a.",
     "655.030",
     "471.981",
     "202.807",
     "1,202.421"
    ]
   ]
  },
  {
   "index": 3,
   "section": "The development book",
   "caption": "Launched Singapore projects at 30 June 2026, as the annual report's business updates state them. Source: FY2026 annual report (pp.19-25).",
   "headers": [
    "Project",
    "Units",
    "Sold",
    "Group stake",
    "Completion targeted"
   ],
   "rows": [
    [
     "Lentor Modern",
     "605",
     "launched; retail mall 95% committed",
     "not stated",
     "completed development"
    ],
    [
     "Lentor Hills Residences",
     "598",
     "fully sold",
     "30%",
     "not stated"
    ],
    [
     "Lentor Mansion",
     "533",
     "fully sold",
     "60%",
     "TOP August 2026"
    ],
    [
     "Lentor Central Residences",
     "477",
     "fully sold",
     "30%",
     "second half of 2027"
    ],
    [
     "Springleaf Residence",
     "941",
     "97% sold",
     "60%",
     "2029"
    ],
    [
     "Faber Residence",
     "399",
     "95% sold",
     "50%",
     "first half of 2029"
    ],
    [
     "Penrith",
     "462",
     "98% sold",
     "30%",
     "first half of 2029"
    ],
    [
     "River Modern",
     "455",
     "93% sold",
     "not stated",
     "2030"
    ],
    [
     "Tengah Garden Residences",
     "863",
     "99% sold",
     "20%",
     "2029"
    ]
   ]
  },
  {
   "index": 4,
   "section": "Q3 2026",
   "caption": "Every threshold-detected move in the 18-month window: 18 moves, all retained from the public price-driver map. Residual means the move remains large after both the Straits Times Index and the median peer return are subtracted.",
   "headers": [
    "#",
    "Session",
    "F17",
    "STI",
    "Peers",
    "Left over",
    "Control result",
    "What the evidence supports"
   ],
   "rows": [
    [
     "1",
     "7 Apr 2025",
     "-5.52%",
     "-7.46%",
     "-4.82%",
     "+1.94%",
     "Market-wide",
     "The session closed 5.52% lower while the Straits Times Index fell 7.46% and the median of the three SGX comparison names fell 4.82%; the shares traded 2.54 times the trailing median volume. Co-movement is consistent with a shared market/sector influence; a causal attribution is not established. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -4.82% over this session."
    ],
    [
     "2",
     "4 Apr 2025 to 11 Apr 2025",
     "-5.52%",
     "-8.19%",
     "-4.69%",
     "+2.67%",
     "Market-wide",
     "The week closed 5.52% lower with the index down 8.19% and the peer median down 4.69%; turnover was 0.07 times the trailing median, so the weekly bar reflects the daily closes of the same market leg. Co-movement is consistent with a shared market/sector influence; a causal attribution is not established. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -4.69% over this window."
    ],
    [
     "3",
     "14 Apr 2025",
     "+4.38%",
     "+1.04%",
     "+0.55%",
     "+3.34%",
     "Residual",
     "The session rose 4.38% against a 1.04% index gain and a 0.55% peer median gain, on 0.88 times the trailing median volume; no announced cause identified on the enumerated tape. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +0.55% over this session."
    ],
    [
     "4",
     "18 Jul 2025 to 25 Jul 2025",
     "+5.45%",
     "+1.71%",
     "+2.79%",
     "+3.75%",
     "Residual",
     "The week closed 5.45% higher while the index gained 1.71% and the peer median 2.79%; the week included the associate's fourth-quarter results posting on 25 July 2025, and the group had priced S$120 million of perpetual securities on 7 July 2025 and issued them on 14 July 2025. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +2.79% over this window."
    ],
    [
     "5",
     "1 Sep 2025",
     "+4.30%",
     "+0.15%",
     "-0.29%",
     "+4.15%",
     "Residual",
     "The session rose 4.30% on 13.7 times the trailing median volume while the index gained 0.15% and the peer median fell 0.29%; the session coincided with the announcement of the sale of property and assets in Johor Bahru and followed the FY2025 results announcement of 28 August 2025. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -0.29% over this session."
    ],
    [
     "6",
     "11 Nov 2025",
     "+3.54%",
     "+1.20%",
     "+2.96%",
     "+2.33%",
     "Residual",
     "The session gained 3.54% on 10.6 times the trailing median volume; it followed the perpetual securities issuance announced on 6 November 2025 and the associate's first-quarter results posted the same day, by three sessions. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +2.96% over this session."
    ],
    [
     "7",
     "12 Dec 2025 to 19 Dec 2025",
     "+5.83%",
     "-0.36%",
     "+2.00%",
     "+6.19%",
     "Residual",
     "The week closed 5.83% higher with the index down 0.36% and the peer median up 2.00%; the week coincided with a 12 December 2025 broker report turning more positive on several Singapore developers, with follow-on sector commentary on 13 December 2025. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +2.00% over this window."
    ],
    [
     "8",
     "27 Jan 2026",
     "+5.91%",
     "+1.28%",
     "+2.94%",
     "+4.63%",
     "Residual",
     "The session rose 5.91% on 21.8 times the trailing median volume against a 1.28% index gain and a 2.94% peer median gain; no announced cause identified on the enumerated tape. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +2.94% over this session."
    ],
    [
     "9",
     "28 Jan 2026",
     "+4.38%",
     "-0.28%",
     "-1.06%",
     "+4.66%",
     "Residual",
     "The session rose 4.38% on 15.9 times the trailing median volume while the index fell 0.28% and the peer median fell 1.06%; the session coincided with the posting of the half-year results of the group's Malaysian subsidiary. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -1.06% over this session."
    ],
    [
     "10",
     "23 Jan 2026 to 30 Jan 2026",
     "+15.88%",
     "+0.28%",
     "+3.38%",
     "+15.60%",
     "Residual",
     "The week closed 15.88% higher while the index gained 0.28% and the peer median 3.38%; the week included the company's 1H FY2026 condensed interim financial statements and media release on 29 January 2026 and the results presentation on 30 January 2026. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +3.38% over this window."
    ],
    [
     "11",
     "10 Feb 2026",
     "+5.58%",
     "+0.07%",
     "+0.31%",
     "+5.51%",
     "Residual",
     "The session rose 5.58% on 14.9 times the trailing median volume with the index up 0.07% and the peer median up 0.31%; the session coincided with the press release for the River Modern District 9 launch, and it followed the privatisation proposal for GuocoLand (Malaysia) Berhad announced on 3 February 2026. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +0.31% over this session."
    ],
    [
     "12",
     "2 Mar 2026",
     "-4.00%",
     "-2.09%",
     "-2.84%",
     "-1.91%",
     "Sector-wide",
     "The session fell 4.00% while the index fell 2.09% and the peer median 2.84%, on 5.31 times the trailing median volume; the move tracked the market and the property names. Co-movement is consistent with a shared market/sector influence; a causal attribution is not established. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -2.84% over this session."
    ],
    [
     "13",
     "3 Mar 2026",
     "-3.41%",
     "+0.53%",
     "+0.27%",
     "-3.94%",
     "Residual",
     "The session fell 3.41% on 7.8 times the trailing median volume while the index and the peer median were both slightly higher; no announced cause identified on the enumerated tape. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +0.27% over this session."
    ],
    [
     "14",
     "27 Feb 2026 to 6 Mar 2026",
     "-9.09%",
     "-2.94%",
     "-4.08%",
     "-6.15%",
     "Residual",
     "The week closed 9.09% lower while the index fell 2.94% and the peer median 4.08%; the week included the joint venture announcement for the Lentor Central land parcel on 6 March 2026 and two director interest notifications on 4 March 2026. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -4.08% over this window."
    ],
    [
     "15",
     "25 Mar 2026",
     "+3.38%",
     "+0.87%",
     "+1.02%",
     "+2.51%",
     "Residual",
     "The session rose 3.38% on 6.6 times the trailing median volume against a 0.87% index gain and a 1.02% peer median gain; no announced cause identified on the enumerated tape. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +1.02% over this session."
    ],
    [
     "16",
     "8 Apr 2026",
     "+5.46%",
     "+0.77%",
     "+3.65%",
     "+4.69%",
     "Sector-wide",
     "The session rose 5.46% while the index gained 0.77% and the peer median 3.65%; most of the move is the sector's, with a residual of 1.81 points against the peer median and no filing dated against the session on the enumerated tape. Co-movement is consistent with a shared market/sector influence; a causal attribution is not established. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was +3.65% over this session."
    ],
    [
     "17",
     "8 May 2026 to 15 May 2026",
     "-5.76%",
     "+1.36%",
     "-2.31%",
     "-7.13%",
     "Residual",
     "The week closed 5.76% lower with the index up 1.36% and the peer median down 2.31%; no announced cause identified on the enumerated tape. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -2.31% over this window."
    ],
    [
     "18",
     "28 Aug 2026",
     "-3.56%",
     "+0.28%",
     "-0.54%",
     "-3.83%",
     "Residual",
     "The session fell 3.56% on 4.3 times the trailing median volume while the index gained 0.28% and the peer median fell 0.54%; the session coincided with the FY2026 full-year financial statements, the FY2026 media release, the proposed final dividend notice and the notice of valuation of real assets, all dated 28 August 2026. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of City Developments (C09.SI), UOL (U14.SI) and Singtel (Z74.SI) was -0.54% over this session."
    ]
   ]
  }
 ]
}