CDL Divests Assets Worth More Than $600 Million In 2024

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CDL Divests Assets Worth More Than $600 Million In 2024

The Edge Singapore 01-16

CDL had indicated a target of $1 billion early last yearCity Developments has announced it has divested assets worth more than $600 million last year as part of its capital recycling moves, with ...

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While market conditions have made divestments challenging, we are glad to have achieved good momentum, and we will continue to push forward with our divestment plans,\" says group CEO Sherman Kwek.\"We aim to optimise our capital management while holistically calibrating our portfolio to ensure alignment with our strategic objectives and to maximise shareholder value,\" he adds.CDL shares closed at $5.05 on Jan 16, down 0.2% for the day and down 20.97% in the past one year.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}