CapitaLand Investment has reported 1HFY2023 earnings of $351 million for 1HFY2023, down 19% y-o-y. While operating profit was steady, the company booked lower portfolio gains.

Revenue in the same six months ended June period was largely steady too, with a 1% y-o-y dip to $1.35 billion.

As at 1HFY2023, CLI’s funds under management stood at $89 billion, with more than $4 billion raised across its various listed and private platforms.

CLI says its listed funds platform also delivered steady operating performance with net property income improvements and good transactions momentum.

With the continued rebound in international travel, CLI registered strong growth in fee income from lodging management and rental from lodging properties. 1H 2023 revenue per available unit increased 32% year-on-year to $87, boosted by higher occupancy rates recorded from properties in all markets.

With capital recycling picking up in 2QFY2023, CLI has made $839 million in divestments as at YTD August 2023.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/results/lhn-group-reports-strong-occupancy-rates-key-projects-3qfy2023-sees-steady-growth-rest?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>LHN Group reports strong occupancy rates for key projects in 3QFY2023; sees steady growth for rest of 2HFY2023</a></b></span>

“CLI continues to build a resilient business that is strategically positioned and well-balanced across diverse sectors, geographical markets and income streams," says chairman Miguel Ko.

"With our strong ground presence and deep operating experience in our core markets of Singapore, China, and India, and our focus markets of Australia, Japan and Korea, we believe that our diversified portfolio, robust balance sheet, and disciplined capital management will position us well to manage risks and uncertainties in the external macroeconomic environment," he adds.

“Despite a challenging environment, we have continued to press ahead and execute well on our priorities, keeping our long-term goals in mind and making sure we do right by our investors across the various vehicles," says group CEO Lee Chee Koon.

"Looking ahead, we expect the pace of capital recycling to improve. We will remain disciplined and selective in our acquisitions to ensure we continue to deliver consistent and high-quality returns. We will also intensify our efforts to raise domestic capital to support our China business, further diversify our portfolio and scale up our business globally,” adds Lee.

CapitaLand Investment reports lower 1HFY2023 earnings with reduced portfolio gains

Will the Rising Sun keep rising?

Fed signals higher-for-longer rates with hikes almost finished

EQT Impact Challenge offers platform for impact entrepreneurs to attain 'patient capital'

Singtel to sell 20% stake in regional data centre business valued at $5.5 bil

SoftBank has either reopened the IPO market or killed it

KKR deal could lead to higher Singtel dividends

Capital management, cash flow and sustainability key focuses of S-REIT managers at forum 

CapitaLand Investment reports lower 1HFY2023 earnings with reduced portfolio gains

Related News

Highlights

Will the Rising Sun keep rising?

Related News

Amid challenges, CapitaLand Investment plans new funds as it continues supporting its REITs

CDL, UOL could be most adversely affected by new property cooling measures among developers: CGS-CIMB

'Hold' on to CapitaLand Investment as its momentum in China kickstarts