- 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:
2024-11-26 CapitaLand Investment - Aiming To Double Operating Earnings & Fund Under Management.
Previous report by Phillip:
2024-11-08 CapitaLand Investment - Transaction Activity Picking Up.
Price targets by 3 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
