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Revisions

City Developments set to pounce on more acquisitions

Broker's Calls

City Developments set to pounce on more acquisitions

PC Lee Published on Tue, Jan 17, 2017 / 11:57 AM GMT+8

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SINGAPORE (Jan 17): City Developments is expected to pounce on more acquisition opportunities this year to capitalise on the current market weakness, says RHB.

And while CDL shares have rebounded 7% year-to-date outpacing the STI Index, outperformance is expected to continue with acquisitions acting as the key rerating catalyst.

Meanwhile, CDL’s UK portfolio -- which makes up 11% of assets -- is also set to receive a boost from better-than-expected performance of UK economy.

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