Millennium Copthorne’s fight for survival

Wed, 29 Jul 2020

Millennium Copthorne has been propped up by government support and revenue from its property portfolio but says the hotel industry is still in "survival mode". Government tax credits, the wage subsidy and managed isolation contracts have been keeping the hotel operator and property investor afloat while regular revenues have dried up in the pandemic. In an emotive half-year earnings report, group chair Colin Sim and managing director BK Chiu thanked staff, shareholders and suppliers for their support during the crisis. It was hard to f...

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