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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 and International, CapitaLand China, CapitaLand India, CapitaLand Lodging, and CapitaLand Financial. The CapitaLand Singapore and International segment comprises CL Singapore, Malaysia and Indonesia, CL Vietnam and CL International. The CapitaLand China segment operates in china. The CapitaLand India operates in India. The CapitaLand Lodging engages in global network and scale, comprises the Group's lodging business. The CapitaLand Financial segment is the real estate fund management unit comprising the Group’s REIT managers and Fund managers. The company was founded in November 2000 and is headquartered in Singapore.

Financial Highlights

Dec 2019 SGDUSD
Gross Profit3,069.57M2,250.09M
Operating income1,754.49M1,286.10M
Income before tax3,239.69M2,374.79M
Net income2,135.89M1,565.67M
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 flow1,778.59M1,303.76M
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 6,441.41M
Gross Profit 1,490.83M 1,620.08M 2,028.30M 2,781.10M 3,069.57M
Operating income 684.64M 839.02M 1,171.27M 1,768.98M 1,754.49M
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 2,730.51M
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 1,778.59M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 3,528.64M 3,870.26M 3,403.66M 4,275.23M 4,721.76M
Gross Profit 1,084.03M 1,173.42M 1,469.27M 2,061.14M 2,250.09M
Operating income 497.83M 607.70M 848.45M 1,311.03M 1,286.10M
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 2,001.55M
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 1,303.76M

Valuation Measures

Dec 2019
Operating margin27.23%
Profit margin33.15%

Key executives

  • Group CEO & Non-Independent Executive Director: Chee Koon Lee
  • Chief Sustainability Officer: Chin Yee Leong
  • President-Singapore & International CapitaLand: Juan Thong Leow
  • Chief Corporate Strategy Officer: Jihong He
  • President-Capital land Financial: Neng Tong Yap


  • CapitaLand Ltd. (52.6%)
  • The Vanguard Group, Inc. (1.6%)
  • BlackRock Fund Advisors (0.9%)
  • Norges Bank Investment Management (0.8%)
  • APG Asset Management NV (0.7%)
  • BlackRock Investment Management LLC (0.7%)
  • Aberdeen Standard Investments (Asia) Ltd. (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.3%)
  • Dimensional Fund Advisors LP (0.2%)

Contact Details

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

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    Last Updated on 26 Oct, 2020

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