- CapitaLand Investment's FY24 PATMI of S$479mil (+165% y-o-y) was below our expectations, forming 64% of our FY24e forecast. The y-o-y gain was mainly due to lower revaluation losses of S$261mil (-57% y-o-y). Excluding revaluation losses, FY24 PATMI was in line with our estimates.
- - Read this at SGinvestors.io -
- Operating PATMI fell 10.2% y-o-y to S$510mil from the absence of contribution from divested properties and one-off income.
- CapitaLand Investment declared a final dividend of 12 cents and a special dividend-in-specie of 0.031 CapitaLand Integrated Commercial Trust (SGX:C38U) units per share, valued at 6 cents per CapitaLand Investment share, taking total FY24 CapitaLand Investment's dividends to 18 cents.
- - Read this at SGinvestors.io -
Key Highlights
Strategic divestments to streamline the balance sheet and shift towards recurring fee-driven earnings.
- Read more at SGinvestors.io.
