SINGAPORE (Aug 11): City Developments has announced a 17.9% drop in 2Q17 earnings to $109.9 million from $133.8 million in 2Q16.

In a separate filing, CityDev has announced it has accepted the resignation of CEO Grant Lewis Kelley who will leave at end December.

Current deputy CEO Sherman Kwek will be appointed as CEO-designate of the company from today.

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