Morningstar - CapitaLand Limited (C31) Underlying Operational Metrics Performing Well in CapitaLands 1Q Results

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Morningstar

Michael Wu

EUR 100.00 For Business Accounts Only

Underlying Operational Metrics Performing Well in CapitaLand's 1Q Results

Our fair value estimate of SGD 4.20 for narrow-moat rated CapitaLand is unchanged after the first-quarter results, and we continue to see value in the property conglomerate. First-quarter operating profit after tax and minority interest was lower at SGD 229 million, attributable to a lower number of residential units sold in Singapore and China. Residential components are cyclical, and the key focus, in our view, is the recurring income from office, malls, and lodging business. All are performin...

02/05/2019 13 EN

Underlying

CapitaLand Limited

CapitaLand is a real estate company based in Singapore. Co. is engaged in real estate development, investment in real estate, financial products and real estate assets, investment advisory and management services as well as management of serviced residences. Co.'s real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes. Co.'s two core markets are Singapore and China. Co. maintains a real estate fund management businesses with assets located in Asia. Co.'s listed real estate investment trusts are: Ascott Residence Trust, CapitaLand Commercial Trust, CapitaLand Mall Trust, CapitaLand Retail China Trust and CapitaMalls Malaysia Trust.

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SG1J27887962 Singapore Exchange Singapore

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Michael Wu

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Underlying Operational Metrics Performing Well in CapitaLand's 1Q Results

Henderson Land Development Co Ltd - Company Profile and SWOT Analysis

CICT Placement

Strategy - Imminent changes to MSCI Singapore weightings

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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