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HOCK LOCK SIEW

Will minority owners of M&C bite?

At an enterprise value of 12 times its Ebitda, it's trading at an attractive level compared to global hospitality plays, says DBS analyst Rachel Tan

SINGAPORE property tycoon Kwek Leng Beng has finally put to rest years of market speculation over whether City Developments (CDL), the majority owner of Millennium & Copthorne (M&C), will seek to privatise the London-listed hotel chain.

On Monday, CDL - the Singapore-listed

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