- CapitaLand Investment (SGX:9CI)’s 3Q23 business update highlighted a divergence in topline performance for its Fee Income-related Business (FRB) and Real Estate Investment Businesses (REIB) segments.
Resilient FRB revenue offset by dip in revenue from REIB segment
- - Read this at SGinvestors.io -
- This implies that FRB revenue grew 10% y-o-y in 3Q23, while that of REIB fell 16% y-o-y.
Fee Income-related Business driven by lodging and commercial management
- Growth for its FRB topline was driven largely by its lodging management and commercial management (previously known as property management) businesses.
- - Read this at SGinvestors.io -
- There was more emphasis placed on its commercial management business this quarter, which CapitaLand Investment sees as a resilient, capital efficient and recurrent fee platform which provides services to its REITs and fast-growing private funds business.
Real Estate Investment Businesses (REIB) affected by China and FX
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-11-09
Previous report by OCBC:
2023-08-15 CapitaLand Investment - Fund Raising Capabilities A Testament Of Solid Reputation.
Price targets by 4 other brokers at CapitaLand Investment Target Prices.
Listing of research reports at CapitaLand Investment Analyst Reports.
Relevant links:
CapitaLand Investment Share Price History,
CapitaLand Investment Announcements,
CapitaLand Investment Dividends & Corporate Actions,
CapitaLand Investment News Articles
