2023 ‘unusually difficult year’, but CLI’s CEO is ‘confident’ about what is to come
He includes that he is “of the view that several companies can have a hard time to navigate a constantly high rates of interest atmosphere and a politically separated environment.”
Therefore, CLI presumes to report a substantial decrease in its overall patmi for FY2023 on a y-o-y basis.
” We must be ready to switch this right into our benefit. Currently, we are seeing some exciting chances emerge which would not have been available when times were good,” he went on. “The secret is never to throw away a dilemma. We will certainly remain to make sure we have the balance sheet and stand ready to create bold transfer to bring a move improvement to our services. We are going to focus on fulfilling the needs of our clients and in so doing, we will definitely develop a base of recurring fee revenue and solid enterprise worth in line with our vision to be the favored global real possession manager developing favorable sustainable impact.”
” Despite the fact that these declines may be non-cash in nature, they will certainly still impact CLI’s full-year results. This is despite the fact that our underlying operating operation remains to be resilient and our company units continue to place highly for the future. Our operating earnings even continues to be solid, steered by our cost earnings, and we are moving in the ideal path,” stated Lee.
Stocks in CLI closed up at $3.16 on Dec 29, 2023.
Further to his message, Lee mentioned a number of geopolitical and economic headwinds involving the continuous Russia-Ukraine war and the unfolding crisis in the Middle East that will certainly influence on how the team can relocate and grow.
The year 2023 has been “unusually difficult”, said Capitaland Investment’s (CLI) team CEO Lee Chee Koon in a New Year message to staff. In spite of doing the job “very quite hard” and remaining clear and directed on the group’s objectives, CLI will encounter asset value losses for the FY2023 ended Dec 31, 2023, around the various markets it is managing in.
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On Dec 8, 2023, CLI publicized that it expects reasonable worth losses on its portfolio of investment real estates, mostly attributable to the investment properties in China, Australia, Europe, the UK and the US. The fair value decreases are non-cash in nature and developed generally due to greater capitalisation rates and weaker market leanings, claimed the team.
That said, Lee states he continues to be positive about the future, as he sees “amazing possibilities for progress in each of our business verticals”, especially in Asia Pacific.
