SINGAPORE (Feb 27): Analysts remain optimistic on property developer City Developments (CDL) following the release of its FY2019 results ended December, on Feb 26.

The group’s earnings inched up 1.3% to $564.6 million, from $557.3 million in FY2018. This comes on the back of stronger revenue from its property development segment, mainly from Singapore projects under construction and balance units from some of its overseas properties.

The group’s core segments are in property development, investment property holdings, fund management and hotel ownership.

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