At 83, Kwek Leng Beng confident of seizing opportunities, as CDL posts 32% rise in H1 profit
Special interim ordinary dividend halved to S$0.02 per share, net gearing climbs to 69%
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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.”
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