Broker Name: Maybank Research Pte Ltd
Date of Report: November 13, 2025
Excerpt from Maybank Research Pte Ltd report.
Report Summary
- CapitaLand Investment Ltd (CLI) is maintaining steady execution in its real estate investment business, focusing on portfolio optimisation and value unlocking. The company’s 9M25 business update highlights flat revenue year-on-year, with growth in fee-related income being offset by the loss of revenue from divested assets.
- CLI raised SGD2.1 billion in external capital for private funds year-to-date and successfully listed CapitaLand Commercial C-REIT in China. The analyst maintains a BUY rating and raises the target price to SGD3.30, reflecting CLI’s strong fee business, ongoing capital recycling, and higher market value of listed funds. Risks include asset markdowns, slower fundraising, high funding costs, and global economic challenges.
Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank website : https://www.maybank.com/investment-banking