 |
(From left)
Mr Wen Khai Meng CEO, CapitaLand Financial Limited Mr Pua Seck Guan CEO, CapitaLand Financial Limited (Real Estate Capital Management-Retail); CEO, CapitaMall Trust Management Limited Mr Martin Tan CEO, CapitaLand Financial Limited (Real Estate Capital Management-Commercial and Integrated Development) Mr Lim Ming Yan CEO, CapitaLand Financial Limited (Real Estate Capital Management-China Development) |
“With the huge increase
in demand for Asian real
estate funds,
our financial
services business is
poised to substantially
increase
its assets under
management. We will
endeavour to maintain our
position as one of Asia’s
leading real estate fund
managers by leveraging
on the Group’s real estate
domain knowledge and
pan-Asia presence.”
Mr Wen Khai Meng
CEO, CapitaLand Financial Limited
CapitaLand Financial Limited (CFL)
is the real estate fund management
and financial advisory services arm
of CapitaLand Group. CFL’s in-house
capabilities include real estate capital
management, structured finance and
advisory services. Its strength lies in
its ability to leverage on CapitaLand’s
real estate delivery capabilities and
international footprint to provide a
comprehensive range of real estate
investment products, from private
to listed funds to structured financial
products. CFL is able to harness this
competitive edge to be a market
leader despite a short history since
its formation in 2002. To date, CFL
has advised on transactions worth
over S$14 billion. It currently manages
10 private equity funds and four real
estate investment trusts (REITs) with
assets under management (AUM) in
excess of S$13 billion as at 31 January
2007. The four REITs are CapitaMall
Trust (CMT), CapitaCommercial Trust
(CCT), CapitaRetail China Trust
(CRCT), and Quill Capita Trust (QCT).
QCT is the Group’s first REIT initial
public offering outside of Singapore, and was listed in Malaysia on
8 January 2007.
CFL’s investors and partners in the
various property funds include global
and regional insurance companies,
pension funds and large corporations.
Singapore
In Singapore, CFL advised on
the establishment of the Ascott
Residence Trust (ART), the world’s
first pan-Asian serviced residence
REIT, and CRCT, the first pure-play
China retail REIT. On the first day of
trading, ART closed 69% higher than
its preferential offer price of S$0.68
per unit while CRCT closed 59%
higher than its offer price of S$1.13
per unit, reflecting the market’s
confidence in CapitaLand’s fund
management capabilities.
CFL played an advisory role in
the acquisition of the landmark
Raffles City by CCT and CMT. At
a total purchase consideration of
S$2.166 billion, this was the largest
real estate investment transaction
in Singapore and the second largest
in Asia for 2006. The equity fund-raising exercises by both CCT and CMT were extremely well received. The private placements were well subscribed and the Automated Teller Machine (ATM) offers were fully subscribed within the first hour of opening. In addition, CCT’s equity fund-raising of S$803.2 million was the largest Singapore REIT offering to date. A Commercial Mortgage-Backed Securities (CMBS) of
S$866.0 million, which was Asia’s (excluding Japan) largest CMBS offering since 2000, was issued to fund the acquisition. |
