- CapitaLand Investment provided a business update for 1Q25. Revenue declined 24% y-o-y to S$496m due to the deconsolidation of CapitaLand Ascott Trust (SGX:HMN) after its divestment of a 4.9% stake. Excluding the consolidated financials of CapitaLand Ascott Trust, CapitaLand Investment’s revenue would have been flat y-o-y on a pro forma basis.
FRB revenue rose 3% y-o-y but REIB revenue was down 6% y-o-y
- - Read this at SGinvestors.io -
- The 6% decline in revenue for its REIB segment excluding CapitaLand Ascott Trust was mainly attributed to the divestment of assets including 16 US multifamily assets and Ascendas iHub Suzhou.
Proposed listing of onshore REIT in China a positive.
- Read more at SGinvestors.io.
