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Property bellwethers CDL, Ascott sound warning on H1 2020 profit hit

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Vivienne Tay

Vivienne Tay

Published Mon, Jul 13, 2020 · 09:50 PM

Singapore

TWO property bellwethers, City Developments Limited (CDL) and Ascott Residence Trust (ART), warned on Monday of dour performance in their first-half results for 2020, having been stung by lockdowns and other safe-distancing measures in various cities that were imposed as a result of the Covid-19 pandemic.

At the close of trading on Monday, stapled securities of ART ended at 99.5 Singapore cents, down 3.5 cents or 3.4 per cent, while shares of CDL closed at S$8.37, down S$0.34 or 3.9 per cent.

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