CapitaLand Investment Profit Drops on China, High Rates
- Singapore firm’s China CEO is cautiously optimistic on outlook
- Secured S$1.3 billion in equity commitments from investors
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CapitaLand Investment Ltd. posted a 19% drop in its first-half profit, due to lower portfolio gains amid higher interest rates, China’s slow recovery and a cautious dealmaking environment.
Net income fell to S$351 million ($260 million) in the six months ended June 30 from S$433 million a year earlier, the Singapore-based real estate investment manager said in a statement Friday. Revenue dipped 0.7% to S$1.35 billion.