CapitaLand announced that it has signed an MOU with IE Singapore and Urwork, a leading Chinese co-working space operator, to form a sharing economy partnership to help Singapore SMEs enter China. This partnership aims to provide a conducive working environment, leads and business advisory services, and smooth the market entry process into China for Singapore SMEs.

IE Singapore will identify and link potential Singapore SMEs to these co-working spaces while CapitaLand will work together with UrWork to launch co-working spaces in its Chinese and Singapore malls. The partnership will look to jointly attract and groom companies with innovative concepts who can also work with C31 Ventures (CapitaLand’s venture capital arm) for financing.

Maintain BUY on CapitaLand with an unchanged fair value estimate of S$3.68.

Source: OCBC Research - 5 Dec 2016