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

The year 2023 has been “abnormally challenging”, stated Capitaland Investment’s (CLI) group CEO Lee Chee Koon in a New Year news to staff. In spite of working “very quite hard” and remaining clear and directed on the team’s goals, CLI is going to encounter asset value reductions for the FY2023 ended Dec 31, 2023, around the various markets it is operating in.

He adds that he is “of the sight that many firms might struggle to get through a constantly high rates of interest atmosphere and a politically divided world.”

” Although these losses might be non-cash in nature, they will certainly still impact CLI’s full-year results. This is despite the fact that our underlying operating productivity continues to be durable and our organization units continue to place firmly for the future. Our operating earnings additionally continues to be solid, driven by our rate income, and we are moving in the ideal direction,” said Lee.

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

In addition to his message, Lee cited numerous geopolitical and economic headwinds consisting of the ongoing Russia-Ukraine battle and the unraveling crisis in the Middle East that will definitely effect on how the team can relocate and grow.

That said, Lee says he remains optimistic about the future, as he sees “exciting opportunities for growth in each of our business verticals”, especially in Asia Pacific.

Therefore, CLI presumes to disclose a significant decline in its total patmi for FY2023 on a y-o-y basis.

” We need to prepare to turn this into our benefit. Currently, we are seeing some exciting opportunities arise which would certainly not have been offered when times were excellent,” he continued. “The trick is at no time to lose a dilemma. We will certainly remain to ensure we have the balance sheet and stand prepared to make bold moves to deliver a move improvement to our companies. We will focus on meeting the needs of our clients and in so doing, we will develop a base of recurring fee income and solid venture value according to our vision to be the recommended worldwide legitimate asset manager developing positive sustainable impact.”

On Dec 8, 2023, CLI declared that it expects fair worth losses on its portfolio of financial investment real estates, primarily attributable to the financial investment real estates in China, Australia, Europe, the UK and the United States. The reasonable worth decreases are non-cash in nature and arose primarily due to higher capitalisation rates and weaker market leanings, said the team.

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