Singapore Stock Market News

CapitaLand - Strong China Performance

StockFanatic
Publish date: Thu, 05 Nov 2015, 02:44 PM
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■ 3Q15 net income in line, with 9M15 at 80% of FY15F. Weak Singapore sales were offset by strong China showing. Malls & serviced residences also improved.

■ Ceased negotiations to buy Asia Square Tower 1. Positive as market was wary of CAPL increasing office exposure amid oversupply.

Maintain BUY with TP lowered to SGD3.88 from SGD3.95 after updating RNAV, still based on 15% discount to RNAV.
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