CDL & Orchard Parade Holdings

CDL & Orchard Parade Holdings: Hotel arm M&C which owns a 35% stake in Tanglin Shopping Centre has reported that the sale of the building has been extended by 1 mth till 26 Sept 2011. This possibility of the sale not going may have affected CDL’s share price yday, which saw a 1.7% decline despite the broad market strengthening. Orchard Parade Holdings which owns St Regis and Orchard Parade Hotel may see possible revaluation gains from the sale as well. CDL currently trades at 1.4x P/B