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) continues to optimize its portfolio and unlock value through disciplined capital recycling, steady fee growth, and successful external capital partnerships, including the debut of CapitaLand C-REIT in China.
• Despite macro challenges and deconsolidation effects, CLI is maintaining its growth trajectory in fee-related revenue, funds under management, and EBITDA, supporting a positive investment outlook with a target price of SGD3.30 and a BUY rating.

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 Research website: https://www.maybank-keresearch.com