- CapitaLand Investment (SGX:9CI) reported an in-line quarter with revenue of S$704m which was stable on a y-o-y basis and made up 22% of our full-year estimates. Its funds fee rate for its funds management business for 1Q24 was 45bp and largely in line with the 46bp seen in 2023.
An in-line quarter in our view.
On track for capital recycling target.
- - Read this at SGinvestors.io -
- In particular, CapitaLand Investment mentioned that it has a number of projects that it expects to close in the next few months and thus the market should expect newsflow in 2Q24 and 3Q24, especially for some of its China assets as well as its US multifamily portfolio.
- - Read this at SGinvestors.io -
Key highlights were commercial and lodging management, with 1Q24 revenue up 18% y-o-y and 8% y-o-y respectively.
- Read more at SGinvestors.io.
