- CapitaLand Investment (SGX:9CI)’s 1H24 revenue rose 1% y-o-y to S$1,365m, as the 8% increase in its fee-income related business (FRB) was partially offset by the 2% decline in revenue for its real estate investment businesses (REIB).
- - Read this at SGinvestors.io -
- On the other hand, the decline in real estate investment business revenue was underpinned by the absence of income from divested properties and weaker corporate leasing demand in the US.
1H24 operating PATMI dipped 14% y-o-y to S$296m and fell short of expectations
- Group EBITDA rose 8% y-o-y to S$819m as a result of higher portfolio gains from asset recycling, but total PATMI slipped 6% to S$331m. Excluding portfolio gains, CapitaLand Investment’s operating PATMI fell by a larger magnitude of 14% y-o-y to S$296m, and constituted 44% of our initial FY24 forecast.
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Aiming to grow more aggressively in Asia ex-China markets
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