CapitaLand

CapitaLand: announced key appointment changes to its senior mgt team, wef 6 Feb 2012.
Lim Ming Yan will focus on his role as Group COO and relinquish his position as CEO of the Ascott;
Olivier Lim will be appointed as the Group CIO from the current Head of Strategic Corporate Development;
Wen Khai Meng will focus on his role as CEO of CapitaLand Financial Limited and relinquish his role as Group CIO;
Jennie Chua will retire from her current role as the Group CCO;
Chong Kee Hiong will be appointed as CEO of Ascott.

JPM notes, whilst part of this cabinet reshuffle is an ongoing process of succession planning, there seems to be a greater emphasis on group-wide strategy and investment. Believes this, rather than earnings (FY11 due 14 Feb), will be one of the key things to focus on. Adds, communication of the Group div policy would also be an impt issue.
Retains Overweight with TP $2.80.