CapitaLand Limited ("CapitaLand") wishes to announce that it has
completed the strategic review of its interest in its subsidiary
Australand and concluded that Australand will continue as a key
investment for CapitaLand. During the review, Australand had received
indicative proposals for the whole and parts of its business but none of
them have been sufficiently compelling.
Australand will
continue to provide CapitaLand with a stable stream of recurring income.
It is well-positioned to benefit from its portfolio of quality
commerical and industrial properties and is one of Australia's largest
industrial development businesses. It is also well placed to benefit
from the improving outlook for the residential sector in key Australian
cities.
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