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18-06-2011, 10:09 AM
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Capitaland Investment
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If you no accounting background, like me, you may find this video very educational.
22-06-2011, 05:31 AM
Business Times - 22 Jun 2011
CapitaLand aims to double China portfolio in 5 years (SHANGHAI) CapitaLand Ltd, which has $10.4 billion of assets in China, said that it is aiming to double its portfolio in the country in the next five years as it expects the economy to expand over the next decade. CapitaLand, South-east Asia's biggest developer, expects new investments in all sectors in the country, including apartments, shopping malls, service residences and the Raffles City brand of office and retail developments, chief operating officer Lim Ming Yan said in an interview in Singapore on Monday. 'China's market is very big, and it's growing very fast,' said Mr Lim, who was chief executive officer of CapitaLand's operations in China from 2000 to 2009. 'We will continue to invest significantly in real estate sectors globally, and China will be a major one.' China overtook Singapore as CapitaLand's biggest market by assets in the first quarter, making up 37 per cent of its holdings, followed by 35 per cent in the city-state. The Singapore- based company expects to expand in its key markets with the capacity to invest a further $2 billion this year, based on the $6 billion spent on new investments globally in 2010, Mr Lim said. CapitaLand shares climbed 3.3 per cent to close at $2.85 yesterday, the third-best performer on the benchmark Straits Times Index and its biggest one-day gain in more than three months. Ascott Holdings Ltd, the company's service residence operator, plans to almost double its portfolio in China to 12,000 from 6,600 apartment units by 2015, while CapitaMalls Asia Ltd, its shopping mall unit, aims to double its holdings to 100 malls from 53 within three to five years, it said. China's retail sales rose 16.9 per cent in May and foreign direct investment surged 13.4 per cent to US$9.2 billion, according to government data. The expansion into China comes as the country is stepping up property curbs amid concerns that prices are becoming unaffordable. The central bank on June 14 ordered banks to hold more money as reserves for the sixth time in 2011 as it fights to contain inflation. Chinese developers' outlook was cut to 'negative' from 'stable' by Standard & Poor's on June 15 on concern that tighter credit and further curbs may lead to rating downgrades in the next year. Property sales may start to slow as the policy 'starts to bite', leading to price cuts that may drive home prices 10 per cent lower in the next year, S&P said. CapitaLand's residential projects in China accounted for 12 per cent of its global portfolio, and it has formed a separate unit to build so-called value homes in the country to tap on demand for lower-priced apartments after focusing on the mid to high-end housing market, Mr Lim said. China last month said that it will maintain curbs after intensifying measures this year with higher minimum down payments for second homes and residential property taxes in Shanghai and Chongqing. 'The policy is effective,' said Mr Lim, who expects home prices to 'moderate' by as much as 5 per cent in the second half in some Chinese cities. 'Price increases have moderated significantly. Volume has dropped.' - Bloomberg
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06-08-2011, 04:35 AM
Business Times - 05 Aug 2011
CapitaLand's Q2 profit jumps 17.4% to $399m Revenue rises 25% to $740.4m; EPS goes up to 9.4 cents By FELDA CHAY HIGHER revenue from development projects in Singapore and China helped CapitaLand to record a 17.4 per cent jump in earnings for the second quarter, compared to a year ago. The property giant said yesterday that net profit for the three months ended June 30, 2011, rose to $399 million from a restated $339.7 million last year. Earnings per share were 9.4 cents, compared with a restated 8 cents last year. Excluding revaluations and impairments, the jump was even greater at 26.6 per cent to $171.3 million, compared with a restated $135.3 million a year ago. Revenue was 25 per cent higher at $740.4 million, compared with a restated $592.5 million. The restatements stem from accounting adjustments that the developer made to comply with an accounting policy that became effective this year. Yesterday, chief executive Liew Mun Leong said that the group will exceed its initial target for new investments, which it earlier set at between $5 billion and $6 billion for 2011. Already, CapitaLand has committed some $5 billion worth of investments in new projects during the first six months of this year, about 80 per cent of which were made in Singapore, said Mr Liew. 'That's because of the opportunity that we saw in Singapore in terms of land site, the one in Marine Point, the one in Jurong and all that,' he said. Singapore, together with China and Australia, is home to 80 per cent of the group's assets. CapitaLand said that it continues to see opportunities in Singapore and China despite the introduction of government measures to cool the residential property market in both countries. 'To me all those measures which they pulled off are not necessarily bad,' said Mr Liew. This is because the initiatives can help to keep speculation in check, he added. CapitaLand will seek acquisitions when price 'expectations of land prices, or en bloc' properties, have moderated, he said. And while the bulk of investments made so far this year has been in Singapore, the group continues to be confident about its prospects in China, said CapitaLand. 'We are not slowing down in China, but we take more caution to make sure that perhaps we can get better price in China. 'But we will continue to see investments in China, especially in cities where we already have a dominant presence - Shanghai, Beijing, Guangzhou, Chengdu,' said Mr Liew. CapitaLand's China pipeline will see it building 22,000 homes there over the next four to five years. Revenue from China for the quarter rose 51.2 per cent from a year ago to $174.8 million. Earnings before interest and taxes (Ebit), however, fell by 16.1 per cent to $324.3 million, which the group attributed to lower fair value gains from Raffles City Shenzhen. The group, which aimed to launch 4,000 apartment units in China this year, has launched 1,700 units in the first half, of which 930 were sold. It hopes to roll out 2,500 more in the next six months of the year. In Singapore, revenue surged 92.3 per cent to $287.7 million, while ebit jumped 46.5 per cent to $263.1 million. CapitaLand said that it will meet its target to launch 1,700 apartments in Singapore this year, and reiterated that it has a pipeline of 2,700 homes that will be launched here over the next three years. It launched 504 units from January to June this year, of which 271 units were sold. Yesterday, CapitaLand also said that Ascott, its serviced residences arm, saw a 4.1 per cent drop in revenue for the April-June period to $99.3 million compared with a restated $103.6 million a year ago. This was due to a lower share of contribution from the 28 properties it divested to Ascott Real Estate Investment Trust (Ascott Reit) late last year. Ebit, however, climbed 74.4 per cent to $70.7 million on higher fair value gains from investment properties held by Ascott Reit and a portfolio gain from the divestment of New Minzhong Leyuan Mall to CapitaRetail China Trust. Overall, cash and cash equivalents held by CapitaLand at the end of the second quarter stood at $6 billion, compared with $4.9 billion last year. Net asset value per share was $3.29, unchanged from end-December. Yesterday, CapitaLand's shares closed flat at $2.80.
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29-11-2011, 01:05 PM
This morning CapitaLand Group announced yet another new mega and ambitious project - the $4.1b landmark Chao Tian Men (朝天门) mixed-use development project in Chongqing, PRC, which is surrounded by water on 3 sides.....
http://info.sgx.com/webcoranncatth.nsf/V...7000BFECC/$file/CL.Slides.Chongqing.29Nov11.pdf?openelement I wonder which other property players would have the guts to go for such kind of mega property development projects - Li Ka-Shing's Cheung Kong?, Hong Kong Land?, Donald Trump?, Hong Leong Group?.
29-11-2011, 10:05 PM
Architect is the same guy who design Marina Bay Sands...and the design bears some similarities.
30-11-2011, 10:18 AM
(This post was last modified: 30-11-2011, 10:19 AM by Contrarian.)
URA / MND can choose not to award if the price is significantly lower than CAPITALAND pricing. And this is how land and hence condo prices remain high...
(22-09-2011, 09:34 PM)Behappyalways Wrote: Wonder if any developer wants to sabo capitaland and trigger this site.......Capitaland will have no choice but to bid close to the price they bid for the adjacent land in order to protect their profit margin..... Got guts yes... but not at this type of pricing... They pick good spot but dumb to pay this kind of pricing... (29-11-2011, 01:05 PM)dydx Wrote: This morning CapitaLand Group announced yet another new mega and ambitious project - the $4.1b landmark Chao Tian Men (朝天门) mixed-use development project in Chongqing, PRC, which is surrounded by water on 3 sides.....
30-11-2011, 10:30 AM
Sometimes the way the bidding works makes me wonder if housing prices will EVER fall?!?!
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
30-11-2011, 11:10 AM
(30-11-2011, 10:18 AM)Contrarian Wrote: Got guts yes... but not at this type of pricing... Most likely, they're confident (based on their numerous past experiences) that they can repackage it at a later date and REIT it out at a good profit (at the same time, acting as REIT mgr and earning a regular income stream + retaining a significant enough controlling stake so that the chances of being voted out as REIT Mgr is slim). Alternatively, they could create another new layer (like CMA) and do a mega IPO. So, perhaps not as risky as we think, as long as nothing happens to shake their pyramid (like those Aussie ones) and cause it to collapse 
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ，百战不殆 ；不知彼 ，不知己 ，每战必殆 ------------
30-11-2011, 11:29 AM
2 crazy questions from someone who knows little on property development and construction....
(1) The Chao Tian Men (朝天门) site is located smack on the spot where the great Jialing River joins up with the even greater Yangtze River. If the water flow or water level of either or both of these 2 great rivers go havoc, would a portion of the land site get washed away before the project is completed? (2) What are the additional technical and cost implications of the proposed mega property development project where the land site is surrounded by water on 3 sides? |
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