Capitaland Investment 02 (Jun 10 - Dec 24)

Re: Capitaland 02 (Jun 10 - Dec 19)

Postby winston » Mon May 27, 2019 11:36 am

vested

What’s New

Merger with Ascendas-Singbridge to herald a new era of growth

Group to benefit from a highly recurring earnings stream that is less susceptible to macro shocks

ROE to remain at a high of >9.0%; managed REITs remain at the forefront to acquire and grow

TP raised to S$4.00 based on 25% discount to RNAV

Ain’t no mountain high enough

Maintain BUY, TP raised to S$4.00.

The merger of CapitaLand Limited (CAPL) and Ascendas-Singbridge (ASB) heralds a new era of growth for the group.

We see a myriad of positives and see the combined entity emerging stronger financially and with
an operational scale that puts it among the largest real estate managers globally.

Our RNAV is revised upwards to S$5.42, accounting for ASB numbers and our TP is raised to S$4.00 on the back of a similar 25% discount to RNAV. BUY!

Source: DBS

https://researchwise.dbsvresearch.com/R ... =efcfikhab
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Re: Capitaland 02 (Jun 10 - Dec 19)

Postby winston » Tue Jun 11, 2019 11:28 am

vested

CapitaLand: Divesting three malls in China for RMB2.96 billion
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Re: Capitaland 02 (Jun 10 - Dec 19)

Postby behappyalways » Wed Jul 03, 2019 9:14 am

CapitaLand sells stake in HK-listed Central China Real Estate for $496 mil
https://www.theedgesingapore.com/capita ... te-496-mil
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Re: Capitaland 02 (Jun 10 - Dec 19)

Postby behappyalways » Fri Aug 09, 2019 6:28 pm

CapitaLand reports 4.2% lower 2Q earnings of $580 mil on lower contributions from Singapore, China projects
https://www.theedgesingapore.com/capita ... pore-china
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Re: Capitaland 02 (Jun 10 - Dec 19)

Postby behappyalways » Tue Nov 05, 2019 5:26 pm

CapitaLand records 7.8% drop in 3Q earnings to $333.9 mil despite higher revenue
https://www.theedgesingapore.com/capita ... er-revenue
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Re: Capitaland 02 (Jun 10 - Dec 20)

Postby behappyalways » Fri Jan 31, 2020 1:14 pm

CapitaLand closes 6 malls in China, puts in place measures against Novel Coronavirus
https://www.theedgesingapore.com/issues ... oronavirus
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Re: Capitaland 02 (Jun 10 - Dec 20)

Postby behappyalways » Thu Feb 20, 2020 4:18 pm

CapitaLand offers rental relief to COVID-19-affected retailers
https://sbr.com.sg/retail/news/capitala ... -retailers
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Re: Capitaland 02 (Jun 10 - Dec 20)

Postby behappyalways » Wed Feb 26, 2020 2:34 pm

CapitaLand's PATMI up 21.2% to $2.14b in 2019
https://sbr.com.sg/commercial-property/ ... 4b-in-2019
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Re: Capitaland 02 (Jun 10 - Dec 20)

Postby behappyalways » Tue Mar 03, 2020 12:55 pm

RAS disappointed in CapitaLand's lack of support for tenants; CapitaLand says relief package has not been fully comprehended by RAS
https://www.theedgesingapore.com/news/c ... ackage-has
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Re: Capitaland 02 (Jun 10 - Dec 20)

Postby winston » Tue May 05, 2020 11:34 am

not vested

CapitaLand Limited: Challenges partially mitigated by diversified portfolio

CapitaLand provided its 1Q20 business update, highlighting that its residential, retail and lodging segments have been more adversely affected by COVID-19, while its offices, business parks, logistics and multi-family properties have been relatively more resilient.

Recurring fee income from its fund management business was also relatively stable in 1Q20.

Looking ahead, CapitaLand believes its retail and lodging business will continue to face headwinds in 2Q20.

On the other hand, there is increasing optimism of a recovery in China, and its residential sales are picking up due to first-timer and upgrader demand.

Management remains on the lookout for investments in data centres, logistics and business park properties.

This would be supported by the continued strength in its balance sheet, with net gearing ratio at 0.64x and S$13b in cash and available undrawn facilities.

After updating our fair value estimates and share prices of CapitaLand’s listed entities, our fair value for CapitaLand is lowered from S$4.24 to S$3.99 (20% discount to RNAV estimate).

Maintain BUY.

Source: OCBC
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