CapitaLand Investment - OCBC Investment 2024-04-29: Expect Capital Recycling Activities To Step Up

• CapitaLand Investment (SGX:9CI) provided its business update for 1Q24. The only profit and loss statement item it disclosed was revenue, which came in at S$650m, versus S$651m in the same period a year ago.

increase in fee income-related business offset by decline in real estate investment business revenue

• - Read this at SGinvestors.io -
• Its listed funds management, lodging management and commercial management businesses clocked in y-o-y growth of 4%, 8% and 18%, respectively.
• - Read this at SGinvestors.io -

The lower REIB revenue was due partly to asset divestments and weaker revenue in the US, but partially offset by improved contribution from Japan.

Management highlighted roadmap to achieving its S$200b FUM target, from S$100b currently

• Read more at SGinvestors.io.

OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-04-29 SGinvestors.io

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