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CDL to report full-year loss; Deloitte completes Sincere review

Tue, Dec 01, 2020 - 5:50 AM

The Biltmore, Mayfair in the UK. CDL's hotel operations arm, led by wholly-owned M&C, anticipates full-year losses for 2020 given the collapse in global travel and tourism.

PHOTO: CDL

Singapore

CITY Developments Ltd (CDL) expects to sink into the red in 2020 with a full-year loss, reversing from a S$564.6 million net profit in 2019, dragged by the prolonged impact of the coronavirus outbreak.

It foresees more impairment losses, and British unit Millennium &...

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