0322 GMT - City Developments' strategic review update, expected in September, could be a key share-price rerating catalyst for shares, says RHB Research's Vijay Natarajan in a note. The analyst anticipates the update to offer clarity on noncore assets and divestment targets and timeline, potentially including asset-light plans for the hospitality sector. The update could also detail CDL's possible plan to grow its fund management segment with strategic options, such as through private funds or public real-estate investment trusts, to boost its flagging return on equity, he says. Enhanced shareholder return plans and a sharper capital-allocation strategy would also be welcome, he adds. RHB retains its buy rating and 11.20 Singapore dollar target price. Shares fall 1.1% to S$8.03.
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