- CapitaLand Investment's 1Q25 gross revenue was S$496m, flat y-o-y on a like-for-like basis. A subdued transactions environment and weaker private fund business resulted in a sluggish growth of fee income, while net divestments resulted in decline in revenue for the real estate investment business.
- - Read this at SGinvestors.io -
- While the quarter was soft and headwinds persist for the fund management business, new fund platforms (SC Capital and Wingate) should shore up full-year numbers. Maintain BUY.
Challenging transactions market
- 1Q revenue was S$496m, -23.7% y-o-y mainly due to deconsolidation of CapitaLand Ascott Trust (flat on a like-for-like basis). 2.6% growth in fee-related business was offset by 6% fall in real estate investment business.
- - Read this at SGinvestors.io -
- Funds under management was S$105b (1Q24 S$91m, 4Q24 S$117b), while fee rate was 46bps (1QFY24 45bps, 2HFY24 48bps).
- Lodging business. saw 5% growth in RevPAR from a rebased 1Q24, led by higher occupancy and relatively unchanged keys.
Expanding capital access, China recycling picking up
- Read more at SGinvestors.io.
