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CityDev's Q2 earnings dip; group has been raising M&C stake

Increased holding in London-listed hotel arm a pragmatic move to lift group's profit, says chairman

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City Developments Ltd (CDL), which on Thursday posted a 3.2 per cent year-on-year drop in second-quarter net profit to S$133.5 million, has been raising its stake in its London-listed hotel arm Millennium & Copthorne Hotels with an eye to consolidating more of the latter's profit.

Singapore

CITY Developments Ltd (CDL), which on Thursday posted a 3.2 per cent year-on-year drop in second-quarter net profit to S$133.5 million, has been raising its stake in its London-listed hotel arm Millennium & Copthorne Hotels with an eye to consolidating more of the latter's...

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