Against Evergrande backdrop, CapitaLand shows right boldness

CLI strike is cheered by the market for the right dose of bravery – that is, without reckless debt load

Leslie Yee

Published Thu, Sep 23, 2021 · 12:44 PM

THIS week saw the culmination of the corporate restructuring of CapitaLand Limited (CLL), with the trading debut of CapitaLand Investment (CLI) on Monday.

CLL split its business into a privately-held development arm and a new listed unit for investment management platforms and lodging under CLI, which is positioned as a real estate investment manager (REIM).

Based on pro forma net asset value (NAV) of S$14.7 billion as at December 31, 2020, excluding the effect of acquisitions and disposals, CLI's NAV per share is S$2.823.

On its first day of…