3 reasons why you should still invest in CapitaLand

Top management makes its case.

CapitaLand's top management gave investors 3 reasons to continue investing in the property developer during a post-3Q13 luncheon presentation hosted by Barclays Research.

First, CapitaLand said that its weak China home presales, which had been a cause for worry, were due to delays in presales approvals. The company expects demand and prices to hold steady.

"Management believes the weak 3Q13 China presales were a function of fewer launch-ready projects, with a healthy sell-through rate of 78%. Management continues to focus on Singapore and five city clusters in China, and is exploring mixed development projects. It has divested non-core assets – a Singapore industrial property, stakes in UK properties, and moved inventory in Japan and Vietnam," noted Barclays.

Second, management assured it has been taking small steps in monetizing non-core assets and reducing finance costs.

Third, CapitaLand expects to see stronger earnings in the next reporting quarter of 4Q13, after lower profit margins particularly from its Shanghai projects led to a disappointing operating PATMI performance.

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