CAPITALAND LIMITED
C31.SI
CapitaLand: Taps Real Estate Focussed Tech start-ups with SGD100m Venture Fund
- CapitaLand announced its plans to setup C31 ventures, a venture fund to tap global tech start-ups focussing on innovating real estate markets. The fund will initially invest SGD15m in the Early Stage Venture Fund III (ESVFIII) by Singapore’s National Research Foundation (NRF) in May'16 for local tech start-ups. CapitaLand is prepared to eventually scale up the investment to SGD100m.
- The move is part of CapitaLand's diversification strategy and will allow it to sharpen its innovation efforts in real estate and result in better customer engagement.
- We like the progressive move that can eventually help CapitaLand reap handsome gains from its successful investments.
- The impact to RNAV and share price at this stage is however minimal.
- Maintain neutral with a TP of SGD3.15.
Vijay Natarajan
RHB Research
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http://www.rhbinvest.com.sg/
2016-06-15
RHB Research
SGX Stock
Analyst Report
3.15
Same
3.15
