CapitaLand - RHB Invest 2016-06-21: Ascott secures seven management contracts across Asia

CapitaLand - RHB Invest 2016-06-21: Ascott secures seven management contracts across Asia CAPITALAND LIMITED C31.SI 

CapitaLand - Ascott secures seven management contracts across Asia.

  • CapitaLand's wholly owned subsidiary The Ascott Limited (Ascott) has added seven new serviced residences across Asia with 1,714units under its belt. The properties are located in Karawang in Indonesia; Putrajaya in Malaysia; Danang in Vietnam; Tokyo in Japan; and Changsha, Shanghai and Shaoxing in China. With this Ascott has secured more than 5,000units in 26 properties in 1H16.
  • The move is in-line with CapitaLand's goal of managing 80,000 units globally by 2020. Currently Ascott operates 28,000 serviced residences globally and has 19,000 under development, making a total of 47,000 units in 290 properties. 
  • The move also highlights CapitaLand's abilities in quickly expanding regionally through its strategic partnerships. The impact to bottomline is expected to be minimal with 1% contributions to 2015 net profits. 
  • Maintain Neutral with a TP of SGD3.15.




Vijay Natarajan RHB Research | http://www.rhbinvest.com.sg/ 2016-06-21
RHB Research SGX Stock Analyst Report NEUTRAL Maintain NEUTRAL 3.15 Same 3.15


Advertisement



MOST TALKED ABOUT STOCKS / REITS OF THE WEEK



loading.......



ANALYSTS SAY


loading.......