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CDL divestment of Seoul hotel seen as 'right move' by RHB

Felicia Tan
Felicia Tan12/16/2021 2:44 PM GMT+08  • 2 min read
CDL divestment of Seoul hotel seen as 'right move' by RHB
In a report dated Dec 14, RHB Group Research has also kept its target price of $9 on the counter.
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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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