Capitaland Investment (CLI) *Official* (SGX: 9CI)

Shion

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CapitaLand’s 3Q earnings rise 48.3% to $192.7 million

CapitaLand’s 3Q earnings rise 48.3% to $192.7 million

http://www.theedgemarkets.com/sg/article/capitaland’s-3q-earnings-rise-483-1927-million

SINGAPORE (Nov 4): CapitaLand recorded a 48.3% y-o-y increase in 3Q earnings to $192.7 million.

Operating profit increased 25.9% to $163 million on the back of a better performance across all business units as well as higher portfolio gains of $20 million and revaluation gains of $9 million.

For the three months ended September, group revenue increased 17.1% owing to higher contributions form development projects in China. This was partially offset by lower revenue recognition from development projects in Singapore and Vietnam.

In addition, the group also recorded higher revenues from its shopping mall and serviced residence businesses.

During the quarter, the group sold 2,422 residential units in China with a sales value of about RMB3.8 billion (840,000), more than double the sales value in 3Q2014.

CapitaLand says it remains focused on Singapore and China as its core markets. Looking ahead, it expects to complete over 2,000 residential units in 4Q.

“Our well-balanced portfolio of investment properties and residential projects will continue to generate recurring income and trading profits for the group,” says Lim Ming Yan, president and group CEO of CapitaLand.

He notes that capital recycling is an integral part of the group’s overall strategy and will continue to explore opportunities to reconstitute its portfolio of assets.

In October, CapitaLand Vietnam developed its eighth residential project at a prime site in District 2 of Ho Chi Minh City for an estimated value of US$55 million ($77 million). This follows the joint venture (JV) CapitaLand established in June to develop a $200 million, 1,000 unit upscale project in the same district.

In Singapore, CapitaLand completed the divestment of Bedok Mall to CapitaLand Mall Trust (CMT) in October. This was followed by CMT’s announcement on the sale of Rivervale Mall under its portfolio in the same month.

Ascott formed a JV with the Qatar Investment Authority to set up a serviced residence fund with an equity commitment of US$600 million. This is the first of six new funds with up to $10 billion in assets under management targeted to be set up by 2020.

Ascott also led a consortium to invest in Tujia.com International, a Beijing-based online apartment-sharing business valued at more than US$1 billion. It also formed a JV with Tujia to operate and franchise a new brand of serviced apartments in China.

Shares in CapitaLand closed 1.63% higher at $3.12 on Tuesday.
 

Perisher

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Averaged in at 3.08, today burst. Jin happy.
 

Perisher

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Btw, I look back 5 year chart of this vs CMT... it looks like a carbon copy the way the 2 trades...
 

Litmuss

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What the reason for the chiong today?

Fed rate hike ain't contributing to capitaland, no?
 

Genosis

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(Bloomberg) -- CapitaLand Commercial Trust, Singapore’s largest office real estate investment trust by value, is selling an office tower in the city-state’s central business district, according to a person familiar with the transaction.

CapitaLand Commercial is seeking to sell the 23-story One George Street building in the Raffles Place office district, the person said, asking not to be named as the information is private. The building, whose tenants include Royal Bank of Scotland Group Plc and Diageo Singapore Pte, has 41,564 square meters (447,000 square feet) of lease area, according to the trust’s website. The tower, bought in 2008 for S$1.17 billion ($816 million), was valued at S$975 million as of Dec. 31, 2014, the website showed.

CapitaLand Commercial Trust Management Ltd., the manager of CapitaLand Commercial Trust, didn’t comment on its plans for One George Street beyond saying it "adopts an active portfolio management strategy to evaluate plans for CCT’s properties from time to time," according to an e-mailed statement in response to a query.

The proposed sale comes as another prime office tower, Asia Square Tower 1, has been put up for sale by BlackRock Inc., in a deal that when concluded could make it the biggest office transaction in Singapore. The value of office buildings in the city-state fell 0.1 percent in the quarter ending Sept. 30 from the previous three months while shops declined 0.3 percent, according to the Urban Redevelopment Authority.

Rents in the central business district fell 4.5 percent in the three months ended Sept. 30 from the previous quarter, according to Jones Lang LaSalle Inc. Rents will trend lower this year as about 3.07 million square feet of office supply will be completed, it said.

The vacancy rate in the central business district increased to 6.1 percent in the three months to September. Vacancies are expected to rise gradually over the next few quarters as some occupiers, mainly from the financial sector, give up space, Jones Lang LaSalle said.

https://sg.finance.yahoo.com/news/capitaland-trust-said-seek-sale-044524963.html
 

Layers

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(Bloomberg) -- CapitaLand Commercial Trust, Singapore’s largest office real estate investment trust by value, is selling an office tower in the city-state’s central business district, according to a person familiar with the transaction.

CapitaLand Commercial is seeking to sell the 23-story One George Street building in the Raffles Place office district, the person said, asking not to be named as the information is private. The building, whose tenants include Royal Bank of Scotland Group Plc and Diageo Singapore Pte, has 41,564 square meters (447,000 square feet) of lease area, according to the trust’s website. The tower, bought in 2008 for S$1.17 billion ($816 million), was valued at S$975 million as of Dec. 31, 2014, the website showed.

CapitaLand Commercial Trust Management Ltd., the manager of CapitaLand Commercial Trust, didn’t comment on its plans for One George Street beyond saying it "adopts an active portfolio management strategy to evaluate plans for CCT’s properties from time to time," according to an e-mailed statement in response to a query.

The proposed sale comes as another prime office tower, Asia Square Tower 1, has been put up for sale by BlackRock Inc., in a deal that when concluded could make it the biggest office transaction in Singapore. The value of office buildings in the city-state fell 0.1 percent in the quarter ending Sept. 30 from the previous three months while shops declined 0.3 percent, according to the Urban Redevelopment Authority.

Rents in the central business district fell 4.5 percent in the three months ended Sept. 30 from the previous quarter, according to Jones Lang LaSalle Inc. Rents will trend lower this year as about 3.07 million square feet of office supply will be completed, it said.

The vacancy rate in the central business district increased to 6.1 percent in the three months to September. Vacancies are expected to rise gradually over the next few quarters as some occupiers, mainly from the financial sector, give up space, Jones Lang LaSalle said.

https://sg.finance.yahoo.com/news/capitaland-trust-said-seek-sale-044524963.html

doesnt sound good...selling cheaper....probably raising cash for capitaGreen buy over. Buy 1 new build and sell one old building. NPI = same? why buy new building?
 
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