Home News Company in the news

M&C mulls sale of at least three properties as it reviews portfolio

The Edge Singapore
The Edge Singapore11/18/2020 09:16 PM GMT+08  • 3 min read
M&C mulls sale of at least three properties as it reviews portfolio
It expects to conclude at least one such sale in 2021.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Millennium & Copthorne Hotels, the hospitality subsidiary of City Developments, is mulling offers for at least three of its properties, as part of its overall review of the business. It expects to conclude at least one such sale in 2021.

In line with the practice of its parent company, the value of the assets, acquired over the years, have not been revalued to market.

“M&C recognises that while capital values of many properties have increased even amid the u uncertainty, return on equity of such assets (from hospitality revenue and profits) is not likely to recover to pre-Covid-19 levels in the near term,” the company says.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.