Singapore's blue chip property darling CapitaLand's proposed $11 billion acquisition of Temasek unit Ascendas-Singbridge will not only significantly increase its geographical reach but also give it meaningful scale in key growth markets like India, which it has found difficult to break into.
CapitaLand group chief financial officer Andrew Lim noted yesterday that the deal will play a key role in determining what CapitaLand 3.0 will look like. "More than 80 per cent of Ascendas-Singbridge's AUM (total assets under management) is in the business space, and 50 per cent is in sectors exposed to new economy space such as business parks and data centres. This will allow CapitaLand to capture mega trends (such as rising urbanisation and e-commerce), which will drive growth," he said.
TO READ THE FULL ARTICLE
Thank you for reading The Straits Times
You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.
What is Premium?