Analysts favour super-sized CapitaLand as 3Q operating PATMI jumps 18.8%

SINGAPORE (Nov 6): Analysts are keeping their “buy” calls on property giant CapitaLand, on the back of bullish sentiments following its recent merger with Ascendas-Singbridge (ASB) and robust capital recycling efforts.

“CapitaLand’s competitive advantage is its significant asset base and extensive market network, which has been further boosted following the completion of the Ascendas-Singbridge merger,” says OCBC Investment Research in a Nov 6 report.

The brokerage is maintaining its “buy” recommendation, and raising its fair value estimate by 9.4% to $4.42.

CapitaLand records 7.8% drop in 3Q earnings to $333.9 mil despite higher revenue

SINGAPORE (Nov 5): CapitaLand has registered a 7.8% drop in earnings to $333.9 million for the 3Q19 ended September, falling from $362.2 million a year ago.

On a fully diluted basis, this translated to earnings per share (EPS) of 6.4 cents for 3Q19, compared to EPS of 8.1 cents in 3Q18.

The decline was largely attributed to lower portfolio gains recorded during the quarter, due to the absence of a one-time gain of $99.2 million from the divestment of Westgate in August 2018.

Ascendas REIT to acquire 30 business park properties from CapitaLand for $1.66 bil; launches rights issue at $2.63 per unit to raise $1.31 bil

SINGAPORE (Nov 1): The manager of Ascendas Real Estate Investment Trust has announced the proposed acquisition of a portfolio of 30 business park properties from CapitaLand for $1.66 billion.

Post-transaction costs, the proposed acquisitions are expected to generate a first year net property income yield of 6.3% for Ascendas REIT.

CapitaLand, CDL preview Sengkang Grand Residences venture

SINGAPORE (Oct 28): CapitaLand and City Developments (CDL) commenced the preview of the residential component of their joint venture, Sengkang Grand, on Oct 25. The mixed-use development, which occupies a 3.7ha site in Sengkang Central and has seamless connectivity to Buangkok MRT station, will be the first community and lifestyle hub in the North-East region.


CapitaLand, CityDev to open doors to highly-anticipated Sengkang Central development on Oct 25

SINGAPORE (Oct 23): CapitaLand and City Developments (CDL) will commence the preview of the highly-anticipated Sengkang Grand Residences sales gallery on Friday, the property development giants say in a joint release.

Bookings for the integrated development, which sits on a 3.7-hectare site at Sengkang Central with seamless connectivity to Buangkok MRT Station, are scheduled to start from Nov 2.

Ascott Residence Trust, Ascendas Hospitality Trust get over 99% approval from unitholders for proposed combination

SINGAPORE (Oct 22): The unitholders of Ascott Residence Trust (Ascott REIT) and Ascendas Hospitality Trust (A-HTRUST) have voted overwhelmingly in support of the proposed combination of the two hospitality real estate investment trusts.

At their respective extraordinary general meetings (EGMs) and scheme meetings on Monday, Ascott REIT and A-HTRUST received strong approval of over 99% of the total number of votes from unitholders.

Investors welcome new initiatives to develop international valuation standards

SINGAPORE (Oct 14): More than two years after minority unitholders of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) kicked up a ruckus over the valuation of three acquisition properties that they believed were overvalued based on master lease rents, Singapore is embracing global valuation standards.


Ascott acquires $192 mil freehold property in Sydney through global fund with QIA

SINGAPORE (Sept 27): Ascott, the lodging business wholly owned by CapitaLand, is investing $192 million in a freehold serviced residence in the central business district of North Sydney.

The acquisition is through the Ascott Serviced Residence Global Fund (ASRGF), the company’s global US$600 million ($833 million) fund that was set up in 2015 through a 50:50 joint venture with Qatar Investment Authority (QIA).

To be named Citadines Walker North Sydney, the serviced residence is part of a 48-storey integrated development, which also includes office and retail components.

CapitaLand receives international recognition for sustainability efforts

SINGAPORE (Sept 17): CapitaLand has been listed on Dow Jones Sustainability World Index and the Global Real Estate Sustainability Benchmark, receiving international recognition for its sustainability efforts.

The real estate developer is one of two Singapore companies on the DJSI World Index this year, and has been listed on the index for eight years running. CapitaLand has also been listed on the Dow Sustainability Asia Pacific Index for 11 years running, making it the first and longest-standing company to be listed consecutively on the index.

City Developments, Sembcorp Industries and CapitaLand top sustainability class

SINGAPORE (Sept 16): Real estate and hotel group City Developments tops the table in The Edge Singapore’s Billion Dollar Club sustainability category, which measures a company’s commitment to strong environmental, social and governance principles. Marine and energy conglomerate Sembcorp Industries is in second place, followed by property group CapitaLand.


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