CDL Q1 profit slips; group buys another UK property
Its JV with IOI has also inked MOU with Marriott International to manage The South Beach hotel
Singapore
CITY Developments Ltd (CDL), which posted declines in first-quarter net earnings and revenue, said on Wednesday that The South Beach hotel here will be rebranded as JW Marriott Singapore.
The 654-room hotel, which CDL owns through a joint venture with Malaysia's IOI Group, began trading last September. A memorandum of understanding has been signed with Marriott International Inc and completion of the appointment is expected shortly.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into Digibank, PayLah! on Thursday
Japan’s Sumitomo Corp net profit down 32% on Madagascar one-off loss
Moody's tops quarterly profit estimates on strong product demand
Hong Kong regulator brings insider trading charges against Segantii and its founder
Novartis to buy radiology specialist Mariana Oncology for US$1 billion
Moderna beats quarterly estimates as cost-cutting pares losses