At 83, Kwek Leng Beng confident of seizing opportunities, as CDL posts 32% rise in H1 profit 

CITY Developments Ltd’s (CDL) executive chairman Kwek Leng Beng says he is confident of seizing opportunities and making acquisitions notwithstanding high interest rates and global uncertainties.

At a briefing after CDL posted a 32 per cent year-on-year rise in first-half net profit to S$87.8 million, the 83-year old said: “I seize the opportunity when everybody gets frightened, and I will zero in. You have to have the courage, have the instinct, and you must be a doer. It’s easier said than done, but I’ve done it for many years. Today I’m confident I can do it again and again.”

“I’m not afraid of the interest rate being high, because I believe it’s coming down. The world cannot sustain such high interest rates for a long time.”