Capitaland 01 (May 08 - May 10)

[LenaHuat]

Hi Aspellian
I'm not ready to tiptoe in yet. Global equities are still overpriced, IMHO.
Regards.

[Aspellian]

Hi Lena,

Tks for your reply. Noted on the overprice part. Cheers.

[winston]

Asia's biggest property firm CapitaLand has set up a 500 million yuan ($72.74 million) real estate private equity fund with China's CITIC Trust to invest in business parks in China.

[LenaHuat]

CapitaLand has bought about 62% of the retail area of Sungei Wang Plaza covering 510,418 mln sq ft, as well as the carparks of the plaza. This purchase of property in Kuala Lumpur costs RM 595 mln.

[iam802]

I don't visit KL a lot.

But this is one place I remember well.

High traffic volume. Wide range of stuffs there. And if I remember correctly, some IT stuffs on level 3. Think also have some small bread-coffee outlets on that level as well.

Fantastic location.

[millionairemind]

CapitaLand Sets Up Integrated Development Private Equity Fund In China
CapitaLand has announced the establishment of its first integrated development private equity fund in China, namely the Raffles City China Fund (RCCF). The fund was successfully closed at US$1b, making it to-date the largest fund originated and managed by CapitaLand. RCCF’s principal investment objective is to invest in prime mixed-use commercial properties in key gateway cities in China. Its seed assets are CapitaLand’s four Raffles City-branded integrated developments in China, namely Raffles City Shanghai, Raffles City Beijing, Raffles City Chengdu and Raffles City Hangzhou.

[millionairemind]

Australand Hit By Revaluation & Writedown

Property revaluation and project writedown have resulted in CapitaLand’s Australian subsidiary, Australand, reporting a 79% year-on-year fall in net profit to A$25.6m for the 1H08.

The Company’s investment property assets had been revalued on 30 June, resulting in a net reduction in asset value of A$7.3m while the carrying values of its residential assets had been reviewed in light of the current market conditions resulting in a write-down of A$34.7m.

Notwithstanding the unrealised losses from the above, half year operating profit rose 6% on the prior year to A$67.5m. Earnings per stapled security, on an operating profit after tax basis, were 7.3 Australian cents, up from 6.9.

[LenaHuat]

Heng ah, luckily didn't pick up this counter when DOW drop to 11,000.

[kennynah]

it's called experience....

[winston]

Not vested.

CapitaLand - Deutsche bank has cut its price target for CapitaLand to S$5.90 from S$6.40 citing weaker growth in Singapore, China and Australia, and maintained its "hold" rating.