2023 ‘unusually difficult year’, but CLI’s CEO is ‘confident’ about what is to come
That said, Lee claims he stays hopeful about the future, as he sees “interesting opportunities for development in each of our business verticals”, particularly in Asia Pacific.
” Despite the fact that these declines might be non-cash in nature, they will still affect CLI’s full-year outcomes. This is despite the fact that our underlying operating operation continues to be resilient and our company units continue to place firmly for the future. Our operating revenue also continues to be strong, driven by our cost revenue, and we are moving in the right direction,” claimed Lee.
The year 2023 has been “unusually difficult”, stated Capitaland Investment’s (CLI) group CEO Lee Chee Koon in a New Year news to workers. Regardless of working “exceptionally hard” and staying clear and centered on the team’s targets, CLI will face asset assessment declines for the FY2023 ended Dec 31, 2023, throughout the different markets it is operating in.
On Dec 8, 2023, CLI announced that it expects fair worth declines on its portfolio of investment real properties, primarily attributable to the investment properties in China, Australia, Europe, the UK and the US. The proper value losses are non-cash in nature and emerged mainly as a result of greater capitalisation prices and weak market leanings, claimed the group.
He includes that he is “of the sight that several companies can deal to navigate a persistently high interest rate setting and a politically divided world.”
Stocks in CLI closed at $3.16 on Dec 29, 2023.
” We should prepare to change this into our benefit. Already, we are seeing some exciting chances arise which would not have been offered when times were good,” he continued. “The trick is at no time to waste a dilemma. We will continue to make sure we have the balance sheet and stand ready to make bold moves to bring a move change to our organizations. We are going to focus on fulfilling the demands of our customers and in so doing, we will definitely construct a base of recurring fee income and solid enterprise worth according to our vision to be the preferred international real possession manager developing positive lasting effect.”
Therefore, CLI anticipates to declare a substantial decline in its total patmi for FY2023 on a y-o-y basis.
In addition to his message, Lee pointed out several geopolitical and economic headwinds involving the continuous Russia-Ukraine battle and the unfolding crisis in the Middle East that will influence on the way the team can move and develop.
