The holiday is over for GL Limited

SINGAPORE (Sept 1): CIMB Research has downgraded its call on GL Limited from “add” to “hold” and lowered its target price from $1.18 previously to 86 cents in anticipation of “significant volatility for the group’s core hotel business ahead”.  

Formerly known as GuocoLeisure, the hospitality and leisure group holding company last week posted a 41% rise in FY16 earnings to US$67.6 million ($92 million) due to lower costs and expenses.

(See GL Limited posts 41% rise in earnings to US$68 mil for FY16)

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