Capitaland Investment (CLI) *Official* (SGX: 9CI)
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Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/capitaland-to-sell-20-malls-in-china-for-837b-yuan
CapitaLand to sell 20 malls in China for 8.37b yuan
FRI, JAN 05, 2018 - 8:29 AM UPDATED FRI, JAN 05, 2018 - 9:09 AM TAN HWEE HWEE hweetan@sph.com.sg
CAPITALAND is set to divest its share of interest in a group of companies that hold 20 retail malls in China for an agreed value of 8.37 billion yuan (about S$1.71 billion) to unrelated parties.
The real estate group said before trading opened on Friday that these malls are located across 19 cities, 14 of which are non-core cities. CapitaLand has one mall in each non-core city. Each of the 20 malls has an average gross floor area (GFA), excluding car park, of about 40,000 square metres (sq m).
The undisclosed buyers will pay US$881.1 million for equity in these retail assets. In addition, the buyers will assume US$220.4 million in outstanding shareholder loans on the books of the companies that are being divested.
The group projected that this transaction will generate net proceeds of about S$660 million and a net gain of about S$75 million. It added that the loss of recurring income arising from this transaction will be limited, as these 20 malls accounted for about 4 per cent and 7 per cent of CapitaLand's respective total and China shopping mall portfolio valuation as at June 30, 2017. The transaction is targeted for completion in the second quarter of this year.
CapitaLand said that this deal falls under its "retail mall portfolio reconstitution" and follows its divestment of CapitaMall Kunshan in the Chinese city of Kunshan last month, and the formation of a joint venture between CapitaLand and CapitaLand Retail China Trust last November to acquire Rock Square, an 84,000 sq m shopping mall in the first-tier city of Guangzhou.
CapitaLand's president and CEO, Lim Ming Yan explained that CapitaLand is seizing a window of opportunity offered by transformative changes to China's retail industry to reconstitute its mall portfolio.
He cited a burgeoning middle class and the rising popularity of omni-channel retailing as some of these transformative changes.
He added too that "unlocking the value of mature assets for reinvestment into new growth opportunities is a hallmark of CapitaLand's capital recycling strategy".
"We will continue to invest in dominant assets in core Chinese city clusters, where we already enjoy a competitive advantage," he said.
CapitaLand to sell 20 malls in China for 8.37b yuan
FRI, JAN 05, 2018 - 8:29 AM UPDATED FRI, JAN 05, 2018 - 9:09 AM TAN HWEE HWEE hweetan@sph.com.sg
CAPITALAND is set to divest its share of interest in a group of companies that hold 20 retail malls in China for an agreed value of 8.37 billion yuan (about S$1.71 billion) to unrelated parties.
The real estate group said before trading opened on Friday that these malls are located across 19 cities, 14 of which are non-core cities. CapitaLand has one mall in each non-core city. Each of the 20 malls has an average gross floor area (GFA), excluding car park, of about 40,000 square metres (sq m).
The undisclosed buyers will pay US$881.1 million for equity in these retail assets. In addition, the buyers will assume US$220.4 million in outstanding shareholder loans on the books of the companies that are being divested.
The group projected that this transaction will generate net proceeds of about S$660 million and a net gain of about S$75 million. It added that the loss of recurring income arising from this transaction will be limited, as these 20 malls accounted for about 4 per cent and 7 per cent of CapitaLand's respective total and China shopping mall portfolio valuation as at June 30, 2017. The transaction is targeted for completion in the second quarter of this year.
CapitaLand said that this deal falls under its "retail mall portfolio reconstitution" and follows its divestment of CapitaMall Kunshan in the Chinese city of Kunshan last month, and the formation of a joint venture between CapitaLand and CapitaLand Retail China Trust last November to acquire Rock Square, an 84,000 sq m shopping mall in the first-tier city of Guangzhou.
CapitaLand's president and CEO, Lim Ming Yan explained that CapitaLand is seizing a window of opportunity offered by transformative changes to China's retail industry to reconstitute its mall portfolio.
He cited a burgeoning middle class and the rising popularity of omni-channel retailing as some of these transformative changes.
He added too that "unlocking the value of mature assets for reinvestment into new growth opportunities is a hallmark of CapitaLand's capital recycling strategy".
"We will continue to invest in dominant assets in core Chinese city clusters, where we already enjoy a competitive advantage," he said.
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Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/capitaland-rejigs-china-focus-with-mall-disposals
CapitaLand rejigs China focus with mall disposals
It is selling 20 China malls for 8.37b yuan, generating net proceeds of S$660m and a net gain of S$75m
SAT, JAN 06, 2018 - 5:50 AM LEE MEIXIAN leemx@sph.com.sg
Singapore
CAPITALAND is divesting its stake in 20 China retail malls for 8.37 billion yuan (S$1.71 billion), in what analysts see as a timely move as the group reconstitutes its portfolio and rejigs its China focus.
The buyers of the assets are China Vanke, Vanke's subsidiary SCPG, and fund affiliate Triwater.
On top of this amount, the buyers will also pay US$220.4 million in outstanding shareholder loans on the books of the property holding companies that are being divested.
At a Friday briefing, CapitaLand's management took pains to stress that it is by no means looking to reduce its footprint in China, but rather is refocusing its attention away from Tier-3 cities to its malls in Tier-1 and Tier-2 locations.
The malls it is disposing of are first-generation malls purchased more than a decade ago. They are small in size, averaging 40,000 sq m each, and many have long leases locked in with anchor tenant Walmart, an American hypermarket and department store operator, which limit the landlord's ability to reposition the malls.
It would also cost too much to rejuvenate the malls, president and group CEO Lim Ming Yan said. At the same time, better-quality malls are also springing up in the vicinity, although he qualified that the CapitaLand malls being disposed of are actually well-located in their respective micromarkets.
"Out of the 20 malls, 14 of them are single malls in single cities, so our presence isn't big enough to be able to enjoy enough market influence," he said. The disposal thus allows CapitaLand to focus on its core city clusters of Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Chongqing and Chengdu.
The group projected that this transaction will generate net proceeds of about S$660 million and a net gain of about S$75 million.
It added that the loss of recurring income from this transaction will be limited, as these 20 malls accounted for only about 4 per cent and 7 per cent of the group's respective total and China shopping mall portfolio valuation as at end-June last year.
The transaction is targeted for completion in Q2 this year.
DBS senior vice-president for group equity research Derek Tan agreed with the management's view that there is "really limited upside" for the portfolio of malls and said this is "an opportune time for CapitaLand to exit".
The news however failed to lift CapitaLand's shares, which fell one Singapore cent or 0.3 per cent to S$3.65, but Mr Tan waved it off as a "weak market day". He said the price at which the assets were disposed of was attractive, at about 7 per cent above their latest valuation and substantially higher than the price CapitaLand acquired them at.
"What it means for CapitaLand is that in the future, it will reap some form of positive carry. It will earn a performance fee, a reward for delivering growth. I think over time, the market will also reward them for it," he said.
UOB Kay Hian analyst Vikrant Pandey also saw CapitaLand's move as freeing up capital from some of its older malls that are more challenging to do asset enhancements on. "There is a good rationale to sell, and the capital could potentially be used for better purposes," he said.
The management declined to share the exit yields of the properties, and in response to queries about whether it will be paying out divestment proceeds to shareholders, said it will "consider its options on how best to utilise the proceeds from the sale". This includes but is not limited to redeploying capital to other opportunities and returning capital to shareholders, it added.
When the disposal proceeds are repatriated back into the company, the property group will have some S$3.66 billion on hand to redeploy to investment opportunities.
Mr Lim said that the capital is "fungible" and can go into different asset classes other than retail malls. The group will also look at partnering other capital partners so as not to take full 100-per-cent stakes in assets, while still being able to beef up its overall operating platform.
The latest transaction was undertaken through CapitaLand's shopping mall business, CapitaLand Mall Asia (CMA). In all, CMA has acquired S$1.8 billion worth of assets since 2015 and divested some S$2.9 billion in assets over the same period.
As a group, CapitaLand has completed S$2.5 billion in divestments in 2017 and reinvested some S$5.5 billion in new properties.
CapitaLand rejigs China focus with mall disposals
It is selling 20 China malls for 8.37b yuan, generating net proceeds of S$660m and a net gain of S$75m
SAT, JAN 06, 2018 - 5:50 AM LEE MEIXIAN leemx@sph.com.sg
Singapore
CAPITALAND is divesting its stake in 20 China retail malls for 8.37 billion yuan (S$1.71 billion), in what analysts see as a timely move as the group reconstitutes its portfolio and rejigs its China focus.
The buyers of the assets are China Vanke, Vanke's subsidiary SCPG, and fund affiliate Triwater.
On top of this amount, the buyers will also pay US$220.4 million in outstanding shareholder loans on the books of the property holding companies that are being divested.
At a Friday briefing, CapitaLand's management took pains to stress that it is by no means looking to reduce its footprint in China, but rather is refocusing its attention away from Tier-3 cities to its malls in Tier-1 and Tier-2 locations.
The malls it is disposing of are first-generation malls purchased more than a decade ago. They are small in size, averaging 40,000 sq m each, and many have long leases locked in with anchor tenant Walmart, an American hypermarket and department store operator, which limit the landlord's ability to reposition the malls.
It would also cost too much to rejuvenate the malls, president and group CEO Lim Ming Yan said. At the same time, better-quality malls are also springing up in the vicinity, although he qualified that the CapitaLand malls being disposed of are actually well-located in their respective micromarkets.
"Out of the 20 malls, 14 of them are single malls in single cities, so our presence isn't big enough to be able to enjoy enough market influence," he said. The disposal thus allows CapitaLand to focus on its core city clusters of Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Chongqing and Chengdu.
The group projected that this transaction will generate net proceeds of about S$660 million and a net gain of about S$75 million.
It added that the loss of recurring income from this transaction will be limited, as these 20 malls accounted for only about 4 per cent and 7 per cent of the group's respective total and China shopping mall portfolio valuation as at end-June last year.
The transaction is targeted for completion in Q2 this year.
DBS senior vice-president for group equity research Derek Tan agreed with the management's view that there is "really limited upside" for the portfolio of malls and said this is "an opportune time for CapitaLand to exit".
The news however failed to lift CapitaLand's shares, which fell one Singapore cent or 0.3 per cent to S$3.65, but Mr Tan waved it off as a "weak market day". He said the price at which the assets were disposed of was attractive, at about 7 per cent above their latest valuation and substantially higher than the price CapitaLand acquired them at.
"What it means for CapitaLand is that in the future, it will reap some form of positive carry. It will earn a performance fee, a reward for delivering growth. I think over time, the market will also reward them for it," he said.
UOB Kay Hian analyst Vikrant Pandey also saw CapitaLand's move as freeing up capital from some of its older malls that are more challenging to do asset enhancements on. "There is a good rationale to sell, and the capital could potentially be used for better purposes," he said.
The management declined to share the exit yields of the properties, and in response to queries about whether it will be paying out divestment proceeds to shareholders, said it will "consider its options on how best to utilise the proceeds from the sale". This includes but is not limited to redeploying capital to other opportunities and returning capital to shareholders, it added.
When the disposal proceeds are repatriated back into the company, the property group will have some S$3.66 billion on hand to redeploy to investment opportunities.
Mr Lim said that the capital is "fungible" and can go into different asset classes other than retail malls. The group will also look at partnering other capital partners so as not to take full 100-per-cent stakes in assets, while still being able to beef up its overall operating platform.
The latest transaction was undertaken through CapitaLand's shopping mall business, CapitaLand Mall Asia (CMA). In all, CMA has acquired S$1.8 billion worth of assets since 2015 and divested some S$2.9 billion in assets over the same period.
As a group, CapitaLand has completed S$2.5 billion in divestments in 2017 and reinvested some S$5.5 billion in new properties.
Jupiter2017
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http://www.businesstimes.com.sg/com...ent-in-china-gets-thumbs-up-from-dbs-rhb-cimb
Brokers' take: CapitaLand's mall divestment in China gets thumbs up from DBS, RHB, CIMB
MON, JAN 08, 2018 - 10:06 AM ANNABETH LEOW leowhma@sph.com.sg
STOCK watchers were happy campers on the news last week that CapitaLand is dropping 20 shopping centres from its retail asset portfolio in China.
Analysts at DBS Group Research and RHB Research Institute Singapore joined the chorus of cheerleaders with "buy" calls on the real estate developer in separate notes on Monday morning.
CIMB analyst Lock Mun Yee had come to the same conclusion in a flash note last Friday, after CapitaLand's announcement.
CIMB held to a target price of S$4.25, while RHB was slightly more cautious, upgrading its take on CapitaLand to "buy" from "neutral" and raising the target price from S$3.90 to S$4.20.
DBS was the most optimistic on the real estate stock, reiterating its previous "buy" recommendation and target price of S$4.35.
Analysts Derek Tan and Rachel Tan noted that their target price was "ahead of consensus average", which now stands at S$4.24.
Still, they said that they believe this fair-value target "is achievable, given expectations that the group will deliver a robust set of results on the back of strong revaluation gains for its commercial portfolio, and locked-in sales for its residential portfolio".
They called the mall sale a "positive catalyst" and a "good opportunity" that will top up the CapitaLand coffers with capital to invest in higher-yield properties with a longer growth runway.
"Strategy-wise, it appears that the group has chosen to stay out of the current euphoria in the Singapore residential market and focus on investing in its core competencies and recycling its portfolio assets," the DBS team added.
RHB analyst Vijay Natarajan echoed this take.
"One of CapitaLand's concerns has been its limited Singapore residential inventory... with the market at the cusp of a potential recovery," he said.
"While we note that its landbank is running low, we believe its prudent approach makes sense amidst the current intense completion, which has driven up the land costs by 20 per cent to 40 per cent.
"We expect the company to continue to selectively bid for residential land and potentially acquire one or two sites in 2018."
CapitaLand's latest overseas mall divestment, which is expected to yield a net gain of S$75 million, came as part of a strategic decision to shift its focus to first-tier and second-tier cities in the Chinese market.
The move was cheered by analysts.
The CIMB report said of CapitaLand's prospects: "Not only would the reconstituted portfolio offer stronger clustering effect, the sharper geographic focus would enable better resource allocation and economies of scale as well as enhance its capacity to capture growth opportunities in China."
It added: "Income vacuum from the sale of the properties would be more than offset by the growing income contribution from the one million sq m of new retail GFA (gross floor area) completed in 2017, in our view.
"More importantly, it has unlocked value from mature assets for reinvestment into new growth opportunities."
CapitaLand was S$0.07 higher, at S$3.72, as at 9.50am on Monday.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
Brokers' take: CapitaLand's mall divestment in China gets thumbs up from DBS, RHB, CIMB
MON, JAN 08, 2018 - 10:06 AM ANNABETH LEOW leowhma@sph.com.sg
STOCK watchers were happy campers on the news last week that CapitaLand is dropping 20 shopping centres from its retail asset portfolio in China.
Analysts at DBS Group Research and RHB Research Institute Singapore joined the chorus of cheerleaders with "buy" calls on the real estate developer in separate notes on Monday morning.
CIMB analyst Lock Mun Yee had come to the same conclusion in a flash note last Friday, after CapitaLand's announcement.
CIMB held to a target price of S$4.25, while RHB was slightly more cautious, upgrading its take on CapitaLand to "buy" from "neutral" and raising the target price from S$3.90 to S$4.20.
DBS was the most optimistic on the real estate stock, reiterating its previous "buy" recommendation and target price of S$4.35.
Analysts Derek Tan and Rachel Tan noted that their target price was "ahead of consensus average", which now stands at S$4.24.
Still, they said that they believe this fair-value target "is achievable, given expectations that the group will deliver a robust set of results on the back of strong revaluation gains for its commercial portfolio, and locked-in sales for its residential portfolio".
They called the mall sale a "positive catalyst" and a "good opportunity" that will top up the CapitaLand coffers with capital to invest in higher-yield properties with a longer growth runway.
"Strategy-wise, it appears that the group has chosen to stay out of the current euphoria in the Singapore residential market and focus on investing in its core competencies and recycling its portfolio assets," the DBS team added.
RHB analyst Vijay Natarajan echoed this take.
"One of CapitaLand's concerns has been its limited Singapore residential inventory... with the market at the cusp of a potential recovery," he said.
"While we note that its landbank is running low, we believe its prudent approach makes sense amidst the current intense completion, which has driven up the land costs by 20 per cent to 40 per cent.
"We expect the company to continue to selectively bid for residential land and potentially acquire one or two sites in 2018."
CapitaLand's latest overseas mall divestment, which is expected to yield a net gain of S$75 million, came as part of a strategic decision to shift its focus to first-tier and second-tier cities in the Chinese market.
The move was cheered by analysts.
The CIMB report said of CapitaLand's prospects: "Not only would the reconstituted portfolio offer stronger clustering effect, the sharper geographic focus would enable better resource allocation and economies of scale as well as enhance its capacity to capture growth opportunities in China."
It added: "Income vacuum from the sale of the properties would be more than offset by the growing income contribution from the one million sq m of new retail GFA (gross floor area) completed in 2017, in our view.
"More importantly, it has unlocked value from mature assets for reinvestment into new growth opportunities."
CapitaLand was S$0.07 higher, at S$3.72, as at 9.50am on Monday.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
endlssorrow
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Some where back in 2016
This stock price drop to as low as $2.80 right?
Within a year last year back to $3.30 and now climbing back to $4?
This stock price drop to as low as $2.80 right?
Within a year last year back to $3.30 and now climbing back to $4?
Jupiter2017
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http://www.businesstimes.com.sg/com...ore-investing-in-wuhan-integrated-development
CapitaLand signs MOU to explore investing in Wuhan integrated development
Thu, Jan 18, 2018 - 6:21 PM Lee Meixian leemx@sph.com.sg
CAPITALAND on Thursday signed a memorandum of understanding (MOU) with the district government of Wuchang, one of three key areas of Wuhan in Hubei Province, to explore working with it to develop a prime site in Wuchang.
The MOU set out the general principles of collaboration between both sides. CapitaLand said that the potential scale of the proposed integrated development is expected to surpass all CapitaLand's existing properties in central China.
The MOU is not legally binding. Both parties will further negotiate for the detailed terms of the cooperation if and when they are entering into definitive agreements, CapitaLand said.
Lim Ming Yan, president and group CEO of CapitaLand, said: "In China, we are focused on deepening our presence in core city clusters where we can leverage our existing operations to grow faster.
"As the major transport and commercial hub in central China with strong economic fundamentals, Wuhan is a high-growth city that is set to benefit further from China's Belt and Road Initiative.
"The city's rapid urbanisation has created a high demand for quality real estate products and services, particularly integrated developments."
To date, the group owns and manages 23 integrated developments with over 6.2 million sq m of gross floor area in China's first and second-tier cities, making CapitaLand the foreign developer in China with the largest portfolio of integrated developments.
Last year, CapitaLand marked the successful opening of six integrated developments - Raffles City Changning in Shanghai; Raffles City Shenzhen; Raffles City Hangzhou; Capital Square in Shanghai; Suzhou Center; and CapitaMall Westgate in Wuhan.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
CapitaLand signs MOU to explore investing in Wuhan integrated development
Thu, Jan 18, 2018 - 6:21 PM Lee Meixian leemx@sph.com.sg
CAPITALAND on Thursday signed a memorandum of understanding (MOU) with the district government of Wuchang, one of three key areas of Wuhan in Hubei Province, to explore working with it to develop a prime site in Wuchang.
The MOU set out the general principles of collaboration between both sides. CapitaLand said that the potential scale of the proposed integrated development is expected to surpass all CapitaLand's existing properties in central China.
The MOU is not legally binding. Both parties will further negotiate for the detailed terms of the cooperation if and when they are entering into definitive agreements, CapitaLand said.
Lim Ming Yan, president and group CEO of CapitaLand, said: "In China, we are focused on deepening our presence in core city clusters where we can leverage our existing operations to grow faster.
"As the major transport and commercial hub in central China with strong economic fundamentals, Wuhan is a high-growth city that is set to benefit further from China's Belt and Road Initiative.
"The city's rapid urbanisation has created a high demand for quality real estate products and services, particularly integrated developments."
To date, the group owns and manages 23 integrated developments with over 6.2 million sq m of gross floor area in China's first and second-tier cities, making CapitaLand the foreign developer in China with the largest portfolio of integrated developments.
Last year, CapitaLand marked the successful opening of six integrated developments - Raffles City Changning in Shanghai; Raffles City Shenzhen; Raffles City Hangzhou; Capital Square in Shanghai; Suzhou Center; and CapitaMall Westgate in Wuhan.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
bluevalley2000
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Will Capitaland have enough legs to surge past $4 this time around? I think there is a resistance at around $3.86-$3.88 region.
Mergui219067
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Jupiter2017
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http://www.businesstimes.com.sg/com...-bank-apartments-for-s728m-q4-profit-falls-38
CapitaLand buys Pearl Bank Apartments for S$728m; Q4 profit falls 38%
Tue, Feb 13, 2018 - 8:17 AM Stephanie Luo stephluo@sph.com.sg
CAPITALAND on Tuesday announced it has acquired the iconic Pearl Bank Apartments in Chinatown for S$728 million, as the developer posted separately a 38 per cent drop in its fourth-quarter net profit.
CapitaLand said that the acquisition - which matched the owners' reserve price - was through a private treaty collective sale. With an additional lease top-up premium estimated at S$201.4 million, the sale price translates to a land price of about S$1,515 per square foot per gross floor area.
Subject to certain conditions, CapitaLand plans to redevelop the site into a highrise residential development comprising around 800 units with "social, shared facilities".
CapitaLand, which posted a net profit of S$267.7 million on Tuesday, said that the 37.8 per cent fall from Q4 2016 came from a lower handover of units for development projects in China and lower portfolio and fair value gains. This was partially mitigated by a net writeback of provision for foreseeable losses.
For the three months ended Dec 31, 2017, earnings per share (EPS) stood at 6.30 Singapore cents, down from 10.20 Singapore cents a year ago.
Net profit for the full year ended Dec 31, 2017, however, rose 30.3 per cent to S$1.6 billion on the back of improved operating performance, higher fair value gains from revaluation of investment properties and portfolio gains.
The increase was partially offset by the absence of a fair value gain from the change in use of Raffles City Changning Tower 2, CapitaLand said.
In FY 2017, EPS was 36.50 Singapore cents, up from 28 Singapore cents in FY 2016.
Revenue in Q4 2017 fell 35 per cent to S$1.2 billion mainly due to lower completion and handover from development projects in China, partially mitigated by higher contributions from development projects in Singapore, shopping mall and serviced residence businesses, as well as contributions from CapitaLand Mall Trust, CapitaLand Retail China Trust and RCS Trust.
Revenue for FY 2017 decreased 12 per cent to S$4.6 billion.
The board is proposing a final ordinary dividend of 12 Singapore cents a share for FY 2017.
CapitaLand closed unchanged at S$3.47 on Monday.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
CapitaLand buys Pearl Bank Apartments for S$728m; Q4 profit falls 38%
Tue, Feb 13, 2018 - 8:17 AM Stephanie Luo stephluo@sph.com.sg
CAPITALAND on Tuesday announced it has acquired the iconic Pearl Bank Apartments in Chinatown for S$728 million, as the developer posted separately a 38 per cent drop in its fourth-quarter net profit.
CapitaLand said that the acquisition - which matched the owners' reserve price - was through a private treaty collective sale. With an additional lease top-up premium estimated at S$201.4 million, the sale price translates to a land price of about S$1,515 per square foot per gross floor area.
Subject to certain conditions, CapitaLand plans to redevelop the site into a highrise residential development comprising around 800 units with "social, shared facilities".
CapitaLand, which posted a net profit of S$267.7 million on Tuesday, said that the 37.8 per cent fall from Q4 2016 came from a lower handover of units for development projects in China and lower portfolio and fair value gains. This was partially mitigated by a net writeback of provision for foreseeable losses.
For the three months ended Dec 31, 2017, earnings per share (EPS) stood at 6.30 Singapore cents, down from 10.20 Singapore cents a year ago.
Net profit for the full year ended Dec 31, 2017, however, rose 30.3 per cent to S$1.6 billion on the back of improved operating performance, higher fair value gains from revaluation of investment properties and portfolio gains.
The increase was partially offset by the absence of a fair value gain from the change in use of Raffles City Changning Tower 2, CapitaLand said.
In FY 2017, EPS was 36.50 Singapore cents, up from 28 Singapore cents in FY 2016.
Revenue in Q4 2017 fell 35 per cent to S$1.2 billion mainly due to lower completion and handover from development projects in China, partially mitigated by higher contributions from development projects in Singapore, shopping mall and serviced residence businesses, as well as contributions from CapitaLand Mall Trust, CapitaLand Retail China Trust and RCS Trust.
Revenue for FY 2017 decreased 12 per cent to S$4.6 billion.
The board is proposing a final ordinary dividend of 12 Singapore cents a share for FY 2017.
CapitaLand closed unchanged at S$3.47 on Monday.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
Minx99
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Uncle Lim very generous, give 20% extra for ang pow this year...
I think Capland overpaid for Pearl Bank. At S$1,515 ppr, need to sell at maybe 2300+ psf. I'm not sure who would want to pay this price for Chinatown.
Reminds me of D'Leedon...amazingly Capland still hasn't finish selling it.
Reminds me of D'Leedon...amazingly Capland still hasn't finish selling it.
Minx99
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On the contrary, i believe they actually manage to buy it at a reasonable price via private treaty sale as Pearl Bank's enbloc sale was unsuccessful. I believe any property that is situated near a MRT interchange station with 3 lines will sell very well in Singapore, also the site is only a 5 minute drive from the CBD...
Jupiter2017
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http://www.businesstimes.com.sg/rea...y-rise-up-to-10-this-year-says-capitaland-ceo
Singapore private home prices may rise up to 10% this year, says CapitaLand CEO
Tue, Feb 13, 2018 - 3:48 PM
[SINGAPORE] Singapore housing prices may rise as much as 10 per cent this year, following a pickup in home sales, the chief executive officer of Southeast Asia's biggest developer said.
"Transaction volume has gone up and usually that's a precursor to some price increase," Lim Ming Yan, the president and CEO of CapitaLand Ltd., said in an interview in Singapore. "A 5-to-10 per cent increase is possible this year barring any unforeseen major volatility in the capital markets."
Lim was speaking after the developer said net income fell 38 per cent to S$267.7 million in the three months ended Dec 31 after finishing fewer homes to sell in China.
Still, CapitaLand shares rose 2 per cent to S$3.54 at 11:59am in Singapore, the biggest advance since Oct 5, after the company raised its full-year dividend 20 per cent.
Rising prices and climbing sales are reinforcing signs the city-state's residential market is emerging from a four-year slump. Developers have been aggressively bidding for land on the back of the recovery.
CapitaLand, which has largely stayed away from the bidding war, said Tuesday it bought Pear Bank Apartments, a redevelopment project near the central business district, for S$728 million, which it will turn into an 800-unit residential complex.
"We continue to look for opportunities in Singapore but we feel the kind of bidding, the price, is too aggressive for us," Lim said. "We bid in a very disciplined manner."
Lim's view is in line with other forecasts. Private home prices may rise as much as 10 per cent this year, according to analysts at Credit Suisse Group, while Morgan Stanley and OCBC Investment Research expect as much as an 8 per cent increase, according to reports from the brokerage firms.
BLOOMBERG
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
Singapore private home prices may rise up to 10% this year, says CapitaLand CEO
Tue, Feb 13, 2018 - 3:48 PM
[SINGAPORE] Singapore housing prices may rise as much as 10 per cent this year, following a pickup in home sales, the chief executive officer of Southeast Asia's biggest developer said.
"Transaction volume has gone up and usually that's a precursor to some price increase," Lim Ming Yan, the president and CEO of CapitaLand Ltd., said in an interview in Singapore. "A 5-to-10 per cent increase is possible this year barring any unforeseen major volatility in the capital markets."
Lim was speaking after the developer said net income fell 38 per cent to S$267.7 million in the three months ended Dec 31 after finishing fewer homes to sell in China.
Still, CapitaLand shares rose 2 per cent to S$3.54 at 11:59am in Singapore, the biggest advance since Oct 5, after the company raised its full-year dividend 20 per cent.
Rising prices and climbing sales are reinforcing signs the city-state's residential market is emerging from a four-year slump. Developers have been aggressively bidding for land on the back of the recovery.
CapitaLand, which has largely stayed away from the bidding war, said Tuesday it bought Pear Bank Apartments, a redevelopment project near the central business district, for S$728 million, which it will turn into an 800-unit residential complex.
"We continue to look for opportunities in Singapore but we feel the kind of bidding, the price, is too aggressive for us," Lim said. "We bid in a very disciplined manner."
Lim's view is in line with other forecasts. Private home prices may rise as much as 10 per cent this year, according to analysts at Credit Suisse Group, while Morgan Stanley and OCBC Investment Research expect as much as an 8 per cent increase, according to reports from the brokerage firms.
BLOOMBERG
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=C31.SI
Uncle Lim very generous, give 20% extra for ang pow this year...
When is the xdate and payout date?
Minx99
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Need to wait for unit holders to approve at AGM, if my memory serve me well, usually pay in May. 5.2% div yield, very yummy...
I see. Thank you.
Need to wait for unit holders to approve at AGM, if my memory serve me well, usually pay in May. 5.2% div yield, very yummy...
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