CDL appoints Deloitte to evaluate investment in Sincere Property

Singapore

PROPERTY giant City Developments Ltd (CDL) on Wednesday said it has appointed Deloitte & Touche Financial Advisory Services as its external financial adviser to assist in further evaluating and reviewing its investment in China-based Sincere Property Group.

This comes after CDL director Kwek Leng Peck resigned last month, citing disagreements with the board and management on the group's investment in Sincere, as well as its management of London-based unit, Millennium & Copthorne Hotels.