CapitaLand Investment - Phillip Securities 2024-08-19: Shifting Towards Fee-Related Earnings

CapitaLand Investment - Shifting Towards Fee-Related Earnings

Published:
CapitaLand Investment (SGX:9CI) | SGinvestors.ioCapitaLand Investment (SGX:9CI)
  • CapitaLand Investment (SGX:9CI)'s 1H24 revenue of S$1.365bn (+1.5% y-o-y) and PATMI of S$331mil (-5.7% y-o-y) were slightly below our estimates, achieving 44% and 41% of our FY24e forecast, respectively.
  • - Read this at SGinvestors.io -
  • CapitaLand Investment’s FRB contributed 63% of 1H24 operating PATMI, up from 49% in 1H23. This trend is expected to continue as the group shifts towards an asset-light, recurring fee income model.
  • CapitaLand Investment aims to double Funds Under Management (FUM) to S$200bn (1H24: S$100bn) by FY28. In 1H24, ~S$1bn of FUM was deployed, increasing the total deployed FUM to S$91bn from S$90bn in FY23, leaving S$9bn of committed equity yet to be deployed.
  • - Read this at SGinvestors.io -

The Positives

1H24 FRB revenue continues to improve, rising 8% y-o-y.

  • Read more at SGinvestors.io.




Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.




Darren Chan Phillip Securities Research | https://www.stocksbnb.com/ 2024-08-19



Read also Phillip's most recent report:
2024-09-04 CapitaLand Investment - Divesting ION Orchard.

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





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