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Finance

CapitaLand Ltd.

Company Background

CapitaLand is the largest real estate developer in Southeast Asia. It was established in 2000 through a merger of DBS Land and Pidemco Land, two government-linked real estate developers in Singapore. Temasek Holdings, Singapore's sovereign wealth fund, has a nearly 40% share. CapitaLand is led by President and Group CEO Lim Ming Yan, who took over in early 2013. Lim was CEO of CapitaLand China Holdings from 2000 to 2009, during which time he drove major development in China.

About 80% of CapitaLand's assets are in Singapore and China, where the company plans to expand further. Its strength is developing different types of properties, such as apartments, offices and shopping malls, as a single project. CapitaLand owns and operates The Ascott, the world's largest chain of international serviced apartments. It also has five publicly listed real estate investment trusts and more than a dozen real estates private equity funds under its umbrella. The company recently privatized CapitaMalls Asia and delisted it from the Singapore Exchange as a part of restructuring. It sold its Australian unit Australand Property Group.

Business Summary

CapitaLand Ltd. is an investment holding company, which engages in the provision of consultancy services. It operates through the following business segments: CapitaLand Singapore, Malaysia and Indonesia (CL SMI), CapitaLand China (CL China), CapitaLand Vietnam (CL Vietnam) and CapitaLand International (CL International). The CL SMI segment involves in the residential, commercial, shopping malls and serviced residence properties development for sale in Singapore, Malaysia and Indonesia. The CL China segment involves in the residential, commercial, shopping malls and serviced residences property development in China. The CL Vietnam segment involves in the residential, commercial and serviced residences property development in Vietnam. The CL International segment involves in commercial, shopping malls and serviced residences property development in Europe, United States of America and Middle East as well as key cities of Asia Pacific excludes Singapore, Malaysia, Indonesia, China and Vietnam. The Others segment includes corporate office and group treasury. The company was founded in November 2000 and is headquartered in Singapore.

Financial Highlights

Dec 2019 SGDUSD
Revenue6,842.97M5,016.11M
Gross Profit3,472.09M2,545.15M
Operating income2,075.75M1,521.59M
Income before tax3,239.69M2,374.79M
Net income2,135.89M1,565.67M
EBITDA3,051.77M2,237.04M
Diluted EPS0.430.32
Dividends Per Share0.120.08
Total Assets82,345.91M61,239.66M
Total liabilities42,960.08M31,948.89M
Total equity23,359.47M17,372.15M
Operating cash flow1,797.79M1,317.83M
Currency in SGDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,852.79M 5,343.47M 4,698.68M 5,768.59M 6,842.97M
Gross Profit 1,490.83M 1,620.08M 2,028.30M 2,781.10M 3,472.09M
Operating income 684.64M 839.02M 1,171.27M 1,768.98M 2,075.75M
Income before tax 1,112.74M 1,199.11M 1,933.24M 2,549.09M 3,239.69M
Net income 1,065.65M 1,190.34M 1,569.56M 1,762.49M 2,135.89M
EBITDA 1,238.64M 1,360.24M 1,734.17M 2,460.24M 3,051.77M
Diluted EPS 0.23 0.26 0.34 0.39 0.43
Dividends Per Share 0.09 0.10 0.12 0.12 0.12
Total Assets 47,052.59M 45,740.77M 61,539.17M 64,647.55M 82,345.91M
Total liabilities 22,114.93M 21,440.29M 29,421.35M 31,340.61M 42,960.08M
Total equity 17,905.30M 17,604.84M 18,412.89M 18,952.71M 23,359.47M
Operating cash flow 2,402.93M 3,296.47M 1,963.30M 452.92M 1,797.79M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 3,528.64M 3,870.26M 3,403.66M 4,275.23M 5,016.11M
Gross Profit 1,084.03M 1,173.42M 1,469.27M 2,061.14M 2,545.15M
Operating income 497.83M 607.70M 848.45M 1,311.03M 1,521.59M
Income before tax 809.11M 868.51M 1,400.41M 1,889.19M 2,374.79M
Net income 774.87M 862.16M 1,136.96M 1,306.22M 1,565.67M
EBITDA 900.66M 985.22M 1,256.21M 1,823.34M 2,237.04M
Diluted EPS 0.17 0.19 0.24 0.28 0.32
Dividends Per Share 0.06 0.07 0.08 0.08 0.08
Total Assets 33,167.16M 31,661.08M 46,048.47M 47,430.34M 61,239.66M
Total liabilities 15,588.71M 14,840.65M 22,015.37M 22,993.85M 31,948.89M
Total equity 12,621.36M 12,185.81M 13,777.97M 13,905.14M 17,372.15M
Operating cash flow 1,747.25M 2,387.62M 1,422.19M 335.67M 1,317.83M

Valuation Measures

Dec 2019
PER8.09
ROA2.90%
ROE10.09%
Operating margin30.33%
Profit margin31.21%

Key executives

  • Group Chief Executive Officer & Director: Chee Koon Lee
  • President: Jen Yuh Loh
  • Chief Financial Officer: Cho Pin Lim
  • President-Asia Region & Retail: Juan Thong Leow
  • Chief Strategy Officer: Jihong He

Shareholders

  • CapitaLand Ltd. (51.8%)
  • The Vanguard Group, Inc. (1.7%)
  • BlackRock Investment Management LLC (1.3%)
  • BlackRock Fund Advisors (0.9%)
  • Norges Bank Investment Management (0.8%)
  • APG Asset Management NV (0.5%)
  • Aberdeen Standard Investments (Asia) Ltd. (0.4%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.4%)
  • Dimensional Fund Advisors LP (0.3%)

Contact Details

  • Website:http://www.capitaland.com
  • Address: No. 30-01, Capital Tower, 168 Robinson Road, Singapore, 068912, Singapore
  • Phone: +65.6713.2888

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Competitors

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