CEO, Liew Mun Leong of  CapitaLand,Southeast Asia‘s largest property developer CapitaLand announced that the company is to:-

• deploy S$1 billion of S$1.8 billion (S$1 = RM2.44) in capital raised from a recent rights issue to its businesses in China, Vietnam and the Ascott Group.
• S$500 million of the S$1 billion will go to its China arm, S$299 million to Vietnam and the remainder to Ascott, a wholly-owned unit that operates serviced apartments.
• The rest of the S$1.8 billion will be kept for further investment opportunities.

Source: Reuter

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