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CapitaLand Investment warns of lower profits for FY23

The company expects value losses on its portfolio of investment properties.

CapitaLand Investment expects a “significant decrease” in its total profit after tax and minority interests (PATMI) for FY23.

The real estate investment and management firm faced deal-making and fundraising challenges and operational pressures in FY23.

Given the situation, the company expects “fair value losses on its portfolio of investment properties, primarily attributable to the investment properties" in markets such as China, Australia, Europe, the UK and the US.

“The fair value losses are, however, non-cash in nature and arose mainly due to higher capitalisation rates and weaker market sentiments,” the firm added.

CapitaLand, however, assured that its core operating earnings have not been significantly impacted and that its operating cash flow remains stable.
 

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