City Developments Limited (SGX:C09) (CDL) issues profit guidance for Financial Year ending 31 December 2020 as the prolonged COVID-19 pandemic continues to impact the various business segments of the group, with effects expected to continue into 2021. In a bourse filing on 30 November 2020, CDL stated that despite the expected full year loss for FY2020, the overall business and financial position of the Group remains healthy, with sufficient liquidity to meet its operating and financial commitments. The Group has been taking proactive actions to strengthen its financial position, including optimising cash flows and liquidity, reducing operational costs and deferring uncommitted capital expenditure. It will continue to maintain a high level of business and financial discipline even as the property development segment and hospitality business continue to recover. As at 30 September 2020, the Group had total cash and available undrawn committed bank facilities of approximately $4.7 billion. Property development recorded a 15% year-on-year decline in reported revenue for the