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

” We need to be ready to change this right into our advantage. Already, we are observing some interesting chances arise which would not have been available when times were excellent,” he continued. “The trick is never to waste a dilemma. We will continue to make sure we have the balance sheet and stand prepared to create bold relocate to carry a step transformation to our services. We are going to concentrate on satisfying the demands of our consumers and in so doing, we will definitely build a base of recurring fee income and strong venture worth in line with our vision to be the favored worldwide legitimate possession manager creating favorable lasting influence.”

On Dec 8, 2023, CLI declared that it expects reasonable value losses on its profile of investment real properties, mostly attributable to the financial investment estates in China, Australia, Europe, the UK and the United States. The reasonable worth losses are non-cash in nature and arose primarily due to greater capitalisation rates and weaker market affects, claimed the group.

” Although these losses may be non-cash in nature, they will certainly still impact CLI’s full-year outcomes. This is although that our underlying operating productivity continues to be resistant and our service units remain to place highly for the future. Our operating profit additionally remains strong, generated by our fee income, and we are moving in the appropriate direction,” stated Lee.

Thus, CLI anticipates to disclose a significant reduction in its entire patmi for FY2023 on a y-o-y basis.

Further to his message, Lee pointed out a number of geopolitical and economic headwinds consisting of the continuous Russia-Ukraine war and the unraveling dilemma in the Middle East that will certainly effect on how the team can move and grow.

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The year 2023 has been “abnormally hard”, said Capitaland Investment’s (CLI) group CEO Lee Chee Koon in a New Year news to staff. Regardless of working “extremely quite hard” and remaining clear and directed on the group’s objectives, CLI will certainly deal with asset assessment declines for the FY2023 ended Dec 31, 2023, around the various markets it is operating in.

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

That said, Lee says he stays hopeful about the future, as he sees “interesting chances for growth in each of our business verticals”, especially in Asia Pacific.

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


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