SINGAPORE, Feb 27 (Bloomberg): Singapore’s richest property dynasty vowed to get back on course after a S$1.78 billion (US$1.3 billion) writedown on a Chinese deal led to a record annual loss.
City Developments Ltd.’s net loss of S$1.9 billion for the year ended Dec. 31 was its first since the early 1970s, thanks to the impairment on its investment in China’s Sincere Property Group.
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