CapitaLand Investment shares fall 3.5% after posting H2 net loss

[SINGAPORE] Shares of CapitaLand Investment (CLI) slumped as much as 8.5 per cent on Wednesday (Feb 11) after the asset manager reported a net loss of S$142 million for the six months ended Dec 31, 2025.

The counter dropped as low as S$2.90 at 9.18 am, S$0.27 lower than its S$3.17 closing price on Tuesday. It later pared some losses to close 3.5 per cent down at S$3.06.

The latest results marked a sharp reversal from the net profit of S$148 million posted for the previous corresponding period. Still, operating profit rose 30 per cent to S$279 million, up from S$214 million a year earlier.

CLI’s full-year earnings plunged 70 per cent year on year to S$145 million from S$479 million. This, the group said, was largely due to higher revaluation losses on its China portfolio and lower portfolio gains, reflecting continued market softness.

Still, Citi analyst Brandon Lee remains bullish on the counter, viewing the sell-off as an “enhanced buying opportunity”.

While CLI’s bottom line was dragged by widening revaluation losses and a slowdown in divestments, its core fee-income engine remains robust, he noted.

Lee pointed out that the group raised a five-year high of S$4.9 billion in private fund equity, which drove a 6 per cent year-on-year rise in fee-related revenue to about S$1.2 billion.

This top-line momentum is expected to be maintained, supported by “continued capital deployment and record-high lodging signings”, he added.

Lee expects CLI’s management to accelerate asset recycling and divestments to offset the current valuation drag.

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Maintaining a “buy” rating and S$3.40 target price, he characterised Wednesday morning’s drop as a “knee-jerk negative reaction”, noting that, before the results, CLI shares had outperformed the broader Straits Times Index in the year to date.