Dear all, Since 19 Oct 2020, City Dev has fallen nine out of ten sessions with a cumulative drop of 20%. City Dev closed at $6.20. Let’s take a look why this City Dev has slumped and why it has caught my attention. Reasons why City Dev has underperformed The below list of likely reasons is not exhaustive. It is just based on my personal view what may have caused City Dev’s underperformance. 1) Concerns over how much support is required by Sincere Property Group Concerns over how much support is required by Sincere Property Group (“Sincere”) flare up again after the resignation of Mr Kwek Leng Peck as a Non-Executive and Non-Independent Director of City Dev. Mr Kwek resigned, citing a) disagreements with the Board and management in relation to the Group’s investment in Sincere and its continuing provision of financial support to Sincere; b) his reservations with the Group’s approach in the management of Millennium & Copthorne Hotels Limited (“M&C”)....