CDL reviewing asset portfolio and business model

Singapore

FRESH from completing the group's third profit participation securities exercise, City Developments Ltd's executive chairman Kwek Leng Beng says the group is reviewing its asset portfolio and business model to boost shareholder returns.

"We are accelerating our diversification initiatives and will continue to focus on improving the group's performance wherever possible, across all segments - property development, hotel operations, investment properties and funds management," he said after CDL released its third quarter report card.

Further acquisitions are also on the group's radar screen given the market dislocatio…