RHB Group Research analyst Vijay Natarajan has kept “buy” on City Developments Limited (CDL) after the property group announced the divestment of Millennium Hilton Seoul on Dec 13.
See: CDL to divest Millennium Hilton Seoul and adjoining land for $1.26 bil at 'significant premium to book value'
The divestment gains stood slightly higher than the analyst’s expectations, he writes.
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