TL;DR
Capitaland Investment’s share price fell after it reported that profit in the first half of 2022 was significantly lower than the previous year. The decline in profit was due to fewer assets sold so far this year. Divestments in 1H 2022 amounted to S$1.6 billion, sharply lower than S$13.6 billion achieved in 2021. Capitaland Investment also had to provide rental rebates to its retail tenants in China with the Covid-related lockdowns earlier. For concerns on CapitaLand Investment to ease, we’d be looking out for signs of turnaround in the Chinese property market.
What happened?
The Singapore market is often seen by investors to be one with very few surprises. So Capitaland Investment’s sharp share price decline after its 1H22 results definitely caught many people’s attention. At one point it fell by 7.6% to a low of $3.79, before recovering slightly to close at $3.92. Clearly, the earnings disappointed investors. Its net profit...
