of property giant CapitaLand Limited and separately listed while its development arm, CapitaLand Development, was privatised.It was a sparkling earnings report that showcased CLI’s new focus and its targets for growing the group.1. A reversal of fortunesOperating profit came in at S$1.1 billion, reversing the operating loss of S$157 million incurred last year.
For context, portfolio gains from divestments totalled S$616 million in FY2021 while revaluation gains and impairments came up to S$236 million.CLI’s business comprises two main segments — fee income-related business , and fee-related earnings from its funds under management business.
In total, the group executed 43 transactions involving investments and divestments totalling S$20.4 billion.4. Robust credit profileThe interest coverage ratio stood at 6.3 times and its average debt maturity was 2.8 years.. Lodging units under management increased by 8% year on year to 133,000 units, on track to meet the group’s 2023 target of 160,000 units.