2Q Result in Line for CapitaLand and City Development; CapitaLand Remains the Preferred Pick
CapitaLand and City Development reported second-quarter results in line with expectations. The latter bounced back from a weak first quarter with a stronger second-quarter result underpinned by revenue recognition of three residential projects and a decent performance for its hotel operation, Millennium and Copthorne. Quarterly operating profit after tax and minority interest for CapitaLand was resilient despite a slight decline of 5% to SGD 605 million on lower contribution from its residential...City Developments is a property developer and owner and investment holding company. Co. and its subsidiaries have four reportable segments: Property Development, which develops and purchases properties for sale; Hotel Operations, which owns and manages hotels; Rental Properties, which develops and purchases investment properties for lease; as well as Others, which comprises club operator and owner, investment in shares, property management, project management and consultancy services and provider of information technology and procurement services. The property development, hotel operations and rental properties segments are managed on a worldwide basis.
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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.
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