Capitaland

Capitaland: Has sold a holding co which owns a plot of land at 313 West Guangzhong Rd in Shanghai for Rmb852m (approx $173m) to an unrelated third party. The property which is currently under development has a total GFA of approx 71.6k sqm. Co's carrying value of the sold stake was approx Rmb600m ($122m) as of 31 Oct 2011. Co expects to record a net gain of approx $40m. Capitaland is currently trading at P/B of 0.8x.