CapitaLand Limited - OCBC Investment 2017-11-28: Strategic Alliance With China UnionPay

CAPITALAND LIMITED C31.SI

CapitaLand Limited - Strategic Alliance With China UnionPay

CapitaLand recently announced that it has forged a strategic alliance with China UnionPay to launch cashless payments in China through its CapitaStar program.
The ceremony affirming the alliance took place in Beijing at the IE Singapore – CapitaLand Tech and Innovation Summit, which aims to accelerate cross-border innovation and knowledge sharing between Singapore and China.
Through the alliance, the group seeks to tap the connected lifestyle and digital literacy of its China customers by enhancing its CapitaStar program with cashless payment capabilities. Its four million CapitaStar members in China will benefit from China UnionPay debit and credit card facilities being integrated with the group’s CapitaStar app.
With this initiative, CapitaStar members can simply scan QR codes on their CapitaStar app to make payments from their China UnionPay accounts at CapitaLand’s Chinese integrated developments, shopping malls and serviced residences while earning and redeeming reward points.

The group also confirmed that it will collaborate with Han Hai Holdings, a high-tech conglomerate that develops science and technology parks in China and the US, to launch a China-focused venture fund, C31 Ventures China.
In addition, CapitaLand entered into a MOU with Megvii to launch Face++, an artificial intelligence-powered facial recognition technology, to provide fuss-free access through the turnstiles at CapitaLand offices and malls in China and Singapore and for users of the CapitaStar app when they log in.
Finally, the group also signed a MOU with IE Singapore and UrWork to facilitate the expansion of Singapore and China companies by supporting them with CapitaLand office and mall spaces and co-working spaces operated by UrWork.
Maintain BUY on CapitaLand with an unchanged fair value estimate of S$4.13.

Eli Lee OCBC Investment | http://www.ocbcresearch.com/ 2017-11-28

OCBC Investment SGX Stock Analyst Report BUY Maintain BUY 4.130 Same 4.130