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LIM & TAN |
LIM & TAN |
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CapitaLand Investment Limited / CLI ($2.71, up 0.01), a leading global real asset manager, has successfully raised approximately S$150 million equity in the first close of its CapitaLand India Data Centre Fund (CIDCF). CIDCF focuses on data centre development opportunities within India’s We continue to like CLI’s growth trajectory, especially with the data centre business in India being one of the fastest growing sector. We believe that CLI will be able to capitalize on strong growth potential of India’s data centre space with their joint venture partner in India. We also see CLI as a key beneficiary of the lower interest rate environment as it is the mothership of the Capitaland suite of REITs in Singapore. With the lower interest rate environment its stable of REITs would be have cheaper funding opti ons to allow them to make accretive acquisiti ons. With Bloomberg consensus 1 year target price standing at $3.50, we maintain an Accumulate rating on CLI.
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HG Metal’s market cap stands at S$134.6mln and currently trades at 12.6x PE and 0.9x PB and currently does not give out dividends. Overall, HG Metal enters the next financial year with a strong cash position, reduced borrowings, a supporti ve controlling shareholder and clear strategic direction. While external uncertainties persist, the Group’s established market positi on, integrated business model, expanding capacity and focus on sustainable, value-added solutions provide a solid foundation for continued resilience and long-term growth. |
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