2023 ‘unusually difficult year’, but CLI’s CEO is ‘confident’ about what is to come

On Dec 8, 2023, CLI publicized that it assumes reasonable value declines on its portfolio of investment real estates, primarily attributable to the financial investment properties in China, Australia, Europe, the UK and the US. The proper worth losses are non-cash in nature and occurred generally due to greater capitalisation prices and weak market affects, said the team.

” We have to be ready to transform this right into our benefit. Already, we are seeing some exciting chances arise which would not have been available when times were excellent,” he continued. “The secret is never to lose a crisis. We will certainly continue to make sure we have the balance sheet and stand prepared to create bold transfer to deliver a move change to our companies. We will focus on satisfying the demands of our consumers and in so doing, we will definitely construct a base of recurring fee revenue and solid enterprise value in line with our vision to be the recommended worldwide legitimate property manager developing favorable sustainable effect.”

Also to his message, Lee mentioned several geopolitical and economic headwinds including the continuous Russia-Ukraine battle and the unraveling situation in the Middle East that will impact on how the group can relocate and grow.

Newport Residences Singapore

That said, Lee states he continues to be positive concerning the future, as he sees “exciting opportunities for progress with all our business verticals”, particularly in Asia Pacific.

He includes that he is “of the sight that many companies could struggle to browse a constantly high rates of interest setting and a politically divided environment.”

” Even though these losses may be non-cash in nature, they will still register CLI’s full-year results. This is despite the fact that our underlying operating productivity continues to be durable and our organization units remain to place firmly for the future. Our operating profit also stays strong, driven by our fee income, and we are moving in the appropriate direction,” claimed Lee.

Shares in CLI closed at $3.16 on Dec 29, 2023.

The year 2023 has been “uncommonly tough”, said Capitaland Investment’s (CLI) group chief executive officer Lee Chee Koon in a New Year news to staff. Despite working “incredibly hard” and continuing to be clear and directed on the group’s objectives, CLI will encounter asset value losses for the FY2023 ended Dec 31, 2023, across the several markets it is managing in.

Thus, CLI presumes to declare a substantial reduction in its overall patmi for FY2023 on a y-o-y basis.