CapitaLand group chief executive and president Lee Chee Koon wants to "deliver on a sustainable basis, double-digit type returns" - after achieving 9.3 per cent ROE for the last fiscal year.CAN one plus one add up to three, five, seven or even twenty? CapitaLand group chief executive and president Lee Chee Koon hopes so.
With ASB's new-economy properties and skills in large-scale urban development, Mr Lee says CapitaLand will be able to source land, negotiate with governments, design, build and manage assets and inject them into the Reits. But his focus will stay largely in business parks and logistics there. He said:"If we want to go into new asset classes in any new market we have to make sure we can build scale and be competitive."
He said such projects can take a long time to negotiate, but allow the company to add value and amalgamate land at attractive prices. That will build future pipeline and profits. CapitaLand will be watching closely its balance between development and investment property to boost ROE and earnings. The new business structure and senior management have been finalised. Mr Lee said:"We wanted to be as ready as we can and do as much of the planning as possible so when the deal gets approved and legally completed, we are ready to hit the ground running."
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