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Metro says cash conservation needed for long-term property development

Gwyneth Yeo Published on Tue, Oct 11, 2016 / 6:45 PM GMT+8

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SINGAPORE (Oct 11): Metro Holdings said it is conserving its cash for its capital intensive property division, in response to an open letter from its shareholder Quarz Capital Management.

(See also: Activist backer Quarz urges Metro to return cash)

In a filing to the Singapore Exchange, Metro said it maintains a long-term focus towards property development and investment which have long development cycles and that its key business strategy lies in expanding its property portfolio and geographical presence.

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