CapitaLand's 2Q12 unit sales surprisingly buoyed by Sky Habitat

CapitaLand sold a total of 202 units in 2Q12.

Here's more from OCBC Investment Research:

CAPL announced 2Q12 PATMI of S$385.9m - down 5.1% YoY. Adjusting for revaluations and impairments, we estimate 2Q12 PATMI at S$179.5m, which is broadly in line with our expectations. Top-line for the quarter came in at S$862.5m, climbing 16.5% YoY mostly due to a stronger contribution from residential sales in Singapore, China and Australia and revenues from Japanese shopping malls.

In China, we saw the number of residential units sold jump 218% QoQ to 812 units, from an anemic 189 units in 1Q12, as buyer sentiments rebounded somewhat over the quarter. The Phase 3 of Beaufort in Beijing on 20 May 12 turned in positive numbers with over 61% of units launched already sold.

In Singapore, 202 units were sold in 2Q12 (57 in 1Q12) with most of the increase in QoQ sales due to the Sky Habitat launch in Apr 12. We would speak with management about the results later today and in the meantime, put both our Buy rating and fair value estimate of S$3.25

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia