CapitaLand reported net profits of S$922mn ($679mn) for 1H2021, up almost 10x YoY, attributing the rise due to Singapore and China. CapitaLand saw portfolio gains of S$489mn ($360mn) that included gains from divestments and realized revaluation that helped boost earnings, besides operating profits that rose 66% to S$433mn ($319mn). Singapore and China accounted for 77% of total revenues in H1 with overall revenues rising 35% YoY to S$2.73bn ($2bn). This would be the last set of results that CapitaLand may report as it heads towards completing its restructuring where it will operate as two distinct entities from September: the new listed unit CapitaLand Investment and the privatized CapitaLand Development.
CapitaLand’s SGD 3.65% Perps were flat at 102.05, yielding 2.97%
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