SINGAPORE (Feb 28): CapitaLand and City Developments (CDL) reported their FY2019 and 4QFY2019 earnings ended December on Feb 26 and both focused on return on equity (ROE). CapitaLand’s ROE rose to 10% in FY2019, from 9.3% in FY2018. In 2013, CapitaLand first set an ROE target of 8%.

“We delivered ROE above our cost of equi­ty and 70% of it is cash based,” notes Andrew Lim, CFO of CapitaLand, during its results brief­ing. Lim refers to the sectors that contributed to CapitaLand’s total Patmi of $2.14 billion in FY2019, up 21.2% y-o-y, as “buckets”.

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