- CapitaLand Investment’s 9M24 revenue rose 1% y-o-y to S$2,104m, with a divergence in performance between its fee-income related business (FRB) and its real estate investment businesses (REIB).
- - Read this at SGinvestors.io -
Current run-rate of FRB below target
- Management acknowledged that the current run-rate of its FRB was below its target of double-digit growth.
- CapitaLand Investment expects its listed funds management revenue growth to improve to mid-single digit level for FY24 (target of 6%-8%), while it is targeting high-single digit to double-digit growth for its private funds management business.
Lodging management’s operational performance was good
- - Read this at SGinvestors.io -
- Management is targeting future low-teens growth for this segment. The decline in revenue for its REIB was largely due to divestments in India, Australia and France, but partially offset by stronger performance in lodging in Japan.
Expecting more divestments for remainder of FY24
- Read more at SGinvestors.io.
