City Developments upgraded to 'hold' by DBS

Stock Name: CITYDEV
Company Name: CITY DEVELOPMENTS LIMITED
Research House: DBS Vickers

DBS Vickers Securities in a Feb 25 research report says: "City Developments delivered a set of strong earnings that beat market expectations. Profits after tax and minority interest came in at $249.2 million (+41.1% y-o-y) for the 4Q and $749 million (+26.2% y-o-y) for FY2010.

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