2023 ‘unusually difficult year’, but CLI’s CEO is ‘confident’ about what is to come
” We have to be ready to turn this into our benefit. Already, we are observing some fascinating opportunities emerge which would not have actually been offered when times were excellent,” he proceeded. “The key is never to throw away a crisis. We will certainly remain to make sure we have the balance sheet and stand prepared to create bold relocate to deliver a step transformation to our companies. We will pay attention to meeting the demands of our clients and in so doing, we will develop a base of recurring fee income and solid enterprise worth in accordance with our vision to be the recommended global legitimate possession manager creating positive sustainable influence.”
On Dec 8, 2023, CLI declared that it assumes reasonable worth declines on its portfolio of investment properties, mainly attributable to the investment estates in China, Australia, Europe, the UK and the US. The reasonable value losses are non-cash in nature and occurred mainly as a result of higher capitalisation rates and weaker market leanings, stated the group.
Shares in CLI closed at $3.16 on Dec 29, 2023.
In addition to his message, Lee pointed out several geopolitical and economic headwinds including the continuous Russia-Ukraine war and the unraveling situation in the Middle East that will effect on just how the team can relocate and develop.
” Even though these declines may be non-cash in nature, they will still impact CLI’s full-year outputs. This is although that our underlying operating productivity remains to be durable and our company units remain to position firmly for the future. Our operating profit also remains solid, generated by our rate revenue, and we are moving in the right course,” said Lee.
That said, Lee claims he continues to be optimistic regarding the future, as he sees “amazing opportunities for progress with all our business verticals”, particularly in Asia Pacific.
He adds that he is “of the view that many companies can struggle to navigate a constantly high rate of interest setting and a politically divided world.”
Thus, CLI expects to declare a significant decrease in its total patmi for FY2023 on a y-o-y basis.
The year 2023 has been “uncommonly hard”, said Capitaland Investment’s (CLI) team chief executive officer Lee Chee Koon in a New Year message to workers. Regardless of working “incredibly quite hard” and staying clear and focused on the team’s targets, CLI will deal with asset value declines for the FY2023 ended Dec 31, 2023, throughout the various markets it is running in.
