Mapletree to expand into Europe and US on weak Asia outlook
Published on May 16, 2014 1:06 PM
SINGAPORE - Mapletree Investments plans to expand into Europe and the United States due partly to a weak outlook for Asia, it said as it posted its full-year results on Friday.
It will also venture into new sectors of real estate, group chief executive Hiew Yoon Khong said in a statement.
"While ... the outlook for Asian markets remains stable, it is not expected to be robust," he noted. "We will ... begin expanding beyond Asia into regions such as Europe and the US, and into new real estate sectors, to further diversify earnings."
Mapletree, a unit of Temasek Holdings, posted earnings of $859.4 million for the 12 months to March 31, down 7.8 per cent from the year before.
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