Better second half expected of CapitaLand on higher residential sales and ASB M&A

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SINGAPORE (Aug 21): CapitaLand, South-east Asia’s largest property group, is expected to have a better 2H19 now that assets under management have expanded to S$129.1 billion after the acquisition of Ascendas-Singbridge (ASB).

On Aug 12, CapitaLand reported lower profit after tax and minority interest (Patmi) for both 2Q19 and 1H19 ended June compared to a year ago, after the developer incurred a one-off transaction cost of S$36 million for the ASB acquisition in 2Q19.

In addition, Patmi for 1H19 fell 5.3% to S$875.4 million from a year ago, while Patmi for 2Q19 fell 4.2% to S$579.8 million. Meanwhile, operating Patmi for 1H19 and 2Q19 fell 14.9% and 8.4% respectively, due to lower contribution from residential projects in...(click on link for full story on theedgesingapore.com)