{"id":86932,"date":"2018-05-02T11:37:11","date_gmt":"2018-05-02T04:37:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-down-18-8-on-absence-of-one-off-gain\/"},"modified":"2018-05-02T12:03:13","modified_gmt":"2018-05-02T05:03:13","slug":"capitaland-net-profit-down-18-8-on-absence-of-one-off-gain","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-down-18-8-on-absence-of-one-off-gain\/","title":{"rendered":"CapitaLand net profit down 18.8% on absence of one-off gain"},"content":{"rendered":"


\nNet profit fell due to the absence of a $160.9 million gain from the sale of The Nassim a year ago.
\nCapitaLand\u2019s net profit for the first quarter of 2018 fell 18.8 percent to $319.1 million, primarily due to the absence of a $160.9 million gain from the sale of The Nassim in Q1 2017.
\nExcluding the gain from The Nassim sale, operating net profit for Q1 2018 jumped 25 percent to $228.7 million on the back of \u201chigher development profits in Singapore, as well as higher rental income from newly acquired or opened malls and offices in China, Japan and Germany\u201d, it said.
\nMore: CapitaLand Q1 Profit Up 77%, Helped By Bulk Sale Of Nassim Condo
\nRevenue rose 53.3 percent to $1.375 billion due to higher contributions from development projects in China and Singapore, rental revenue from newly opened and acquired properties, as well as the consolidation of revenue from CapitaLand Retail China Trust (CRCT), RCS Trust (RCST) and CapitaLand Mall Trust (CMT).
\nCapitaLand president and group CEO Lim Ming Yan revealed that the company is on track to achieve its $3 billion annual capital recycling target while exploring investment opportunities across asset classes.
\n\u201cIn 1Q 2018, we continued to optimise our portfolio by divesting 20 retail assets in China. This was followed by the proposed acquisition of Pearl Bank Apartments in Singapore and a site for our first integrated development in Vietnam,\u201d he said.
\n\u201cWe also successfully set up our second commercial fund in the country, the US$130 million CapitaLand Vietnam Commercial Value-Added Fund, as part of growing our fee-based business.\u201d
\nLooking ahead, CapitaLand expects market sentiments for Singapore residential property to \u201cimprove further this year, underpinned by overall positive economic performance and increased transaction volumes\u201d.
\nIn fact, it expects home prices to continue rising following a 3.9 percent quarter-on-quarter increase in Q1 2018. \u201cWe expect overall sales of new homes to improve with developers launching more projects in 2018.\u201d
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand net profit down 18.8% on absence of one-off gain<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net profit fell due to the absence of a $160.9 million gain from the sale...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-86932","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-mC8","jetpack-related-posts":[{"id":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":86932,"position":0},"title":"CapitaLand\u2019s net profit rose 13.6% in Q3","date":"November 14, 2018","format":false,"excerpt":"\r View of The Nassim condominium project. CapitaLand\u2019s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling. Operating profit for Q3 2018 increased 13.3 percent to $233.7 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","url_meta":{"origin":86932,"position":1},"title":"CapitaLand Q3 net profit up 28% to $247.5 million","date":"November 10, 2016","format":false,"excerpt":"\r Earnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand) Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":86932,"position":2},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-sells-entire-stake-in-nassim-hill-realty-for-411-6m\/","url_meta":{"origin":86932,"position":3},"title":"CapitaLand sells entire stake in Nassim Hill Realty for $411.6m","date":"January 17, 2017","format":false,"excerpt":"\r The sale of Nassim Hill Realty was satisfied entirely in cash, said CapitaLand. CRL Realty, a wholly-owned subsidiary of property giant CapitaLand, has sold its 100 percent stake in Nassim Hill Realty (NHR) to Kheng Leong Company for $411.6 million. In an SGX filing on Monday (16 January), CapitaLand\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":86932,"position":4},"title":"CapitaLand Net Profit Drops 7.4% In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r Revenue also declined 23.8 percent to $1.048 billion, mainly due to lower contributions from residential projects.\u00a0 CapitaLand saw its net profit drop 7.4 percent to $295.6 million in the first quarter of 2019, from $319.1 million over the same period last year. The decline was attributed to lower operating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q2-profit-soars-97-amid-revaluation-gains-divestments\/","url_meta":{"origin":86932,"position":5},"title":"CapitaLand Q2 profit soars 97% amid revaluation gains, divestments","date":"August 3, 2017","format":false,"excerpt":"\r Victoria Park Villas is one of the development projects that contributed to its Q2 revenue. (Photo: Christopher Chitty) CapitaLand saw its net profit surge 97 percent to S$579.3 million in Q2 2017, thanks to higher revaluation gains and divestments. Revenue fell 12.3 percent to S$992.4 million from the previous\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86932"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=86932"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86932\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}