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Raffles expects flat performance, not on buying spree
Raini Hamdi, Singapore
 

Raini Hamdi, Singapore  
(20th Feb 2003)


RAFFLES Holdings expects the group's 2003 performance to remain flat compared to 2002, in line with the global economic and industry trends.

It presented the outlook to the media and analysts during the group's recent results briefing.

Far from embarking on a “buying spree”, as reported, the group will continue to push topline and cost containment initiatives in a bid to improve margins.

Raffles is sticking to its strategy of continuing to seek selective growth in key regions through fee-based income from management contracts, with no or sliver equity involvement. North Asia remains its number one priority.

 
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