2023 ‘unusually difficult year’, but CLI’s CEO is ‘confident’ about what is to come

On Dec 8, 2023, CLI announced that it expects reasonable worth losses on its profile of investment real estates, mainly attributable to the investment estates in China, Australia, Europe, the UK and the US. The reasonable worth losses are non-cash in nature and developed mostly due to greater capitalisation rates and weaker market leanings, claimed the group.

” Despite the fact that these losses may be non-cash in nature, they will still affect CLI’s full-year results. This is despite the fact that our underlying operating operation continues to be resilient and our organization units continue to place highly for the future. Our operating revenue also continues to be strong, generated by our cost revenue, and we are moving in the ideal course,” stated Lee.

” We must be ready to turn this into our benefit. Already, we are observing some interesting chances emerge which would not have been offered when times were good,” he proceeded. “The key is never to lose a crisis. We will continue to guarantee we have the balance sheet and stand ready to make bold transfer to carry a move change to our organizations. We will focus on satisfying the requirements of our clients and in so doing, we will definitely build a base of recurring fee revenue and strong venture value according to our vision to be the favored worldwide legitimate asset manager creating positive lasting impact.”

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In addition to his message, Lee cited a number of geopolitical and economic headwinds involving the continuous Russia-Ukraine war and the unfolding situation in the Middle East that will certainly impact on how the team can move and grow.

Because of this, CLI presumes to report a significant reduction in its entire patmi for FY2023 on a y-o-y basis.

The year 2023 has been “unusually hard”, said Capitaland Investment’s (CLI) group chief executive officer Lee Chee Koon in a New Year news to workers. Regardless of doing the job “extremely hard” and continuing to be clear and centered on the group’s targets, CLI is going to deal with asset valuation reductions for the FY2023 concluded Dec 31, 2023, across the different markets it is running in.

He includes that he is “of the sight that several firms can struggle to browse a persistently high rate of interest setting and a politically divided environment.”

That said, Lee claims he stays optimistic about the future, as he sees “amazing possibilities for progress in each of our business verticals”, specifically in Asia Pacific.

Shares in CLI closed up at $3.16 on Dec 29, 2023.

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