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

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 $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 $36 million for the ASB acquisition in 2Q19.