CapitaLand’s competitive advantage is its significant asset base and extensive market network, which has been further boosted following the completion of the Ascendas-Singbridge merger. CapitaLand now has a core focus on Singapore, China, India and Vietnam.

Coupled with extensive design, development and operational capabilities, CapitaLand develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia with a total of six REITs and business trusts listed in Singapore and Malaysia. The Group has grown its real estate AUM to SGD132.5b, as at 31 Dec 2020.

Although the Covid-19 pandemic has impacted CapitaLand’s operations, we believe its strong balance sheet and diversified portfolio puts it in a better position to drive a recovery ahead, while capital recycling activities are also expected to resume in a more meaningful way.

BUY.

Source: OCBC Research - 25 Feb 2021