Welcome to this week’s edition of top stock market highlights. CapitaLand Investment Limited (SGX: 9CI) The Ascott Limited, the wholly-owned lodging business unit of CapitaLand Investment Limited, or CLI, saw its fee-related earnings (FRE) jump 28% year on year to S$331 million. The better performance was announced during CLI’s 2023 earnings which saw Ascott becoming a key contributor to the property giant’s earnings. 2023 also saw a record 9,600 units going operational. The ongoing travel recovery boosted revenue per available unit (RevPAU), enabling it to grow 20% year on year from higher average daily rates and occupancies. A total of 77 new properties were signed in 2023, allowing The Ascott to surpass its year-end target of securing 160,000 units earlier than expected. CEO of Ascott and CLI Lodging Kevin Goh has outlined plans for 2024. Ascott will continue to drive asset-light growth organically using a mix of management and franchise agreements. He also revealed that for 2023, 38% of new agreements signed were with...