Stocks to watch: Singtel, ST Engineering, Wilmar, CapitaLand Investment, Sembcorp, UOL and more
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 13):
CapitaLand Investment is restructuring its portfolio, potentially recycling up to S$9 billion in non-core and legacy assets, as the company shifts focus towards expanding its listed and private funds businesses and reducing its balance sheet size. Group CEO Lee Chee Koon explained during an earnings briefing on Thursday that CapitaLand still possesses a significant balance sheet due to its legacy assets, which include joint venture funds and development funds established when the company was primarily a developer.
The portfolio reorganization will also involve reducing excess holdings in some of its larger real estate investment trusts (REITs), such as CapitaLand Integrated Commercial Trust (CICT), which owns a combination of prime office and retail properties, and the industrial-focused CapitaLand Ascendas REIT (Clar).
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Also reported by 1 other outlet
- CapitaLand Investment to restructure portfolio, recycle up to S$9 billion businesstimes.com.sg
