CapitaLand: (S$3.08) Pivoting towards an asset-light Chinese shopping mall strategy
- Turning its sights to a more asset light strategy for its retail mall business after signing a contract to manage 95,000 sqm of retail space in Changsha, Central China
- Expected to commence operations by the end of 2018 and will double its presence in Changsha
- Pivot to China is noteworthy as retail spending growth back in Singapore slows down to a trickle
- Street is fairly bullish on the counter particularly due to its China exposure as well as undervalued domestic property portfolio
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