CapitaLand profits jumped 12.3% to $1.76b in 2018

It gained higher contributions from its retail, commercial, and lodging businesses in Singapore and China.

CapitaLand popped the champagne with its 2018 profits, which grew 12.3% to $1.76b from $1.60b. Revenue was up 21.3% to $5.60b from $4.62b.

According to its financial statement, revenue grew due to newly acquired properties in Singapore, China, Germany, and the USA; higher handover of units from residential projects in China and Vietnam; and the consolidation of revenue from CapitaLand Mall Trust (CMT), CapitaLand Retail China Trust (CRCT), and RCS Trust (RCST). It was partially offset by lower contributions from residential projects in Singapore.

“The development projects which contributed to the revenue this year were The Metropolis in Kunshan, New Horizon in Shanghai, Vermont Hills in Beijing, Century Park West and Century Park East in Chengdu, Victoria Park Villas, Sky Habitat and The Interlace in Singapore and Mulberry Lane in Vietnam,” the company said.

Singapore and China accounted for 75.7% of the company’s revenue, slightly lower than 76.7% in 2017.

Meanwhile, EBIT grew 25.5% to $4.15b due to higher operating contributions from retail, commercial and lodging businesses; higher contributions from residential projects in China; as well as higher revaluation gains on investment properties recorded during the year.

Also read: Ascott's global lodging portfolio crosses 100,000 unit-mark

Portfolio gains grew to $537.6m thanks to divestments of Westgate, Twenty Anson and Sembawang Shopping Centre in Singapore, Somerset International Building, Tianjin, and 20 retail malls in China and Citadines Harbourview in Hong Kong.

“EBIT from residential and commercial strata business was slightly lower mainly due to the absence of the gain from the sale of The Nassim recorded in FY2017 and the projects in Singapore were progressively fully sold, partially mitigated by higher handover of units from projects in China and Vietnam, as well as higher write back of provision for foreseeable losses in FY2018,” CapitaLand added.

The company noted that property cooling measures implemented by the Chinese government in first- and second-tier cities are expected to cool the property market and restrict growth in home prices. “Nonetheless, take-up rates continue to be strong, with 92% of the group’s launched units already sold. In addition, the group expects to launch close to 7,000 units in FY 2019,” it added.

CapitaLand's board is proposing a final ordinary dividend of $0.12 per share for 2018.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]