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

He includes that he is “of the view that many business might deal to get through a persistently high interest rate environment and a politically divided world.”

In addition to his message, Lee cited numerous geopolitical and economic headwinds consisting of the recurring Russia-Ukraine battle and the unfolding dilemma in the Middle East that will impact on just how the group can move and develop.

” We should prepare to transform this into our benefit. Currently, we are observing some fascinating opportunities emerge which would not have been available when times were great,” he proceeded. “The key is at no time to squander a situation. We will continue to make sure we have the balance sheet and stand ready to create bold moves to bring a move change to our services. We are going to focus on satisfying the demands of our customers and in so doing, we are going to develop a base of recurring fee revenue and strong enterprise value according to our vision to be the preferred international real property manager creating favorable lasting influence.”

The year 2023 has actually been “uncommonly hard”, claimed Capitaland Investment’s (CLI) group chief executive officer Lee Chee Koon in a New Year news to workers. Despite doing the job “very hard” and continuing to be clear and focused on the team’s objectives, CLI is going to deal with asset assessment losses for the FY2023 concluded Dec 31, 2023, around the different markets it is running in.

That said, Lee claims he remains optimistic about the future, as he sees “exciting possibilities for progress with all our business verticals”, particularly in Asia Pacific.

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

Therefore, CLI presumes to disclose a considerable reduction in its overall patmi for FY2023 on a y-o-y basis.

On Dec 8, 2023, CLI announced that it assumes fair value losses on its portfolio of investment properties, mainly attributable to the investment real estates in China, Australia, Europe, the UK and the United States. The reasonable value decreases are non-cash in nature and emerged primarily due to higher capitalisation rates and weaker market sentiments, said the group.

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” Even though these losses may be non-cash in nature, they will certainly still affect CLI’s full-year results. This is although that our underlying operating performance continues to be durable and our organization units continue to position firmly for the future. Our operating profit also remains solid, generated by our fee earnings, and we are relocating the ideal course,” stated Lee.

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