• 26
  • 18
  • 收藏

Temasek-backed CapitaLand to split into two as it seeks asset-light growth

reuters2021-03-22

SINGAPORE (Reuters) - CapitaLand Ltd, majority-owned by Singapore state investor Temasek, announced on Monday plans to split itself into two in a strategy aimed at pursuing growth as an asset-light company.

It is proposing to inject its real estate investment trusts and investment management unit into a separate listed Singapore entity and place its real estate development business under a Temasek unit.

The restructuring move by CapitaLand comes after it posted its first annual loss in nearly two decades in 2020, and like rival property developers, faces a tough outlook due to the coronavirus pandemic. It is one of Asia’s largest real estate firms by assets with operations in Singapore, China, India and other markets.

CapitaLand plans to merge its investment management platform and lodging business into a separate listed entity called CapitaLand Investment Management (CLIM).

The company will also place its real estate development business under private ownership of CLA Real Estate Holdings, an indirect fully owned unit of Temasek Holdings, which owns 52% of CapitaLand.

“The overarching objective of the scheme is to sharpen the group’s focus and position it to be an asset-light and capital-efficient business through CLIM,” CapitaLand said in a statement.

CLIM, which will be listed on the Singapore Exchange, is expected to become Asia’s largest real estate investment manager with assets under management of about S$115 billion ($85.7 billion). It will also hold stakes in CapitaLand’s listed real estate investment trusts and business trusts.

CapitaLand will become the privatised development arm and hold a 51.8% stake in CLIM.

CapitaLand shareholders will receive an implied consideration of S$4.102 per share in cash and scrip, including a one-for-one equivalent stake in CLIM.

Trading in CapitaLand’s shares was halted on Monday ahead of the announcement. Trading in units of its real estate investment trusts - Ascott Residence Trust, CapitaLand Integrated Commercial Trust, Ascendas, CapitaLand China Trust and Ascendas India Trust - was also halted.

CapitaLand has a market value of S$17.4 billion ($13 billion). The halted CapitaLand REITs have a total market value of S$33.6 billion.

($1 = 1.3432 Singapore dollars)

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论18

  • jhhh
    ·2021-03-23
    Hard to judget
    回复
    举报
  • Yuhsheng
    ·2021-03-22
    Split again?!
    回复
    举报
    收起
    • mQ
      SPlit before?
      2021-03-23
      回复
      举报
  • ENAHSHANE
    ·2021-03-22
    Ok
    回复
    举报
  • 壬庚
    ·2021-03-22
    Overall strategy make sense to the company growth
    回复
    举报
    收起
    • ENAHSHANE
      Nice
      2021-03-22
      回复
      举报
    • Big__Boss
      response my comment please ! anyone
      2021-03-22
      回复
      举报
  • I like this move
    回复
    举报
  • Chinleong
    ·2021-03-22
    It is more wise to diversify investment
    回复
    举报
  • Zarkness
    ·2021-03-22
    Reduce in asset holding and yet increase in face value? Interesting how can this goes through with small sweets given to investors and retaining the key money making portion privately . Let’s See how the resolution pass through!! 
    回复
    举报
    收起
    • KinKat
      Their timing is just right, just like SMRT & M1
      2021-03-23
      回复
      举报
    • Zarkness
      Haha yeah, and with a Premium at market Price, today open 3.99 and hit high of 4.01. now at 3.72. if u dont like the idea u can sell with profits so u have no coMplaint . Win win for Both .
      2021-03-23
      回复
      举报
  • ctxion
    ·2021-03-22
    Ok can
    回复
    举报
    收起
    • KGTAN
      Hmm
      2021-03-22
      回复
      举报
    • Zarkness
      I also many hmmmmm
      2021-03-22
      回复
      举报
  • kawa86
    ·2021-03-22
    nice
    回复
    举报
    收起
    • kawa86
      pls like & comment
      2021-03-22
      回复
      举报
    • KGTAN
      CIct fTw
      2021-03-22
      回复
      举报
    • ENAHSHANE
      Nigce
      2021-03-22
      回复
      举报
    查看更多 1 条评论
  • Jojofi
    ·2021-03-22
    Good
    回复
    举报
    收起
    • WeiKeong
      Yes
      2021-03-22
      回复
      举报
    • Jojofi
      [财迷]
      2021-03-22
      回复
      举报
  • Jojofi
    ·2021-03-22
    Good move
    回复
    举报
  • joeyong
    ·2021-03-22
    please comment!! thankss
    回复
    举报
    收起
    • WeiKeong
      Yes
      2021-03-22
      回复
      举报
    • WeiKeong
      [得意]
      2021-03-22
      回复
      举报
  • Nicholasbt
    ·2021-03-22
    Buying
    回复
    举报
  • Alvinlsm
    ·2021-03-22
    Cheers
    回复
    举报
  • Zerrick
    ·2021-03-22
    Looking good 😌 
    回复
    举报
  • Fionfion82
    ·2021-03-22
    Pls like and comment 😊
    回复
    举报
    收起
    • joeyong
      please response thanks!
      2021-03-22
      回复
      举报
    • Fionfion82
      Hi hi
      2021-03-22
      回复
      举报
  • ValAly
    ·2021-03-22
    Split into 2.. hard time... 
    回复
    举报
    收起
    • ValAly
      Comment and like pls...
      2021-03-22
      回复
      举报
    • Zarkness
      Hard ah
      2021-03-22
      回复
      举报
  • LongZR
    ·2021-03-22
    Nice
    回复
    举报
 
 
 
 

热议股票

 
 
 
 
 

7x24