CapitaLand Investment’s retrenchments: Mind the downsides of a profitable business laying off staff
No employer provides an iron rice bowl but there is value in a company being loyal to staff
[SINGAPORE] Global real asset manager CapitaLand Investment (CLI) posted a robust set of results for the first half.
Driven by higher fee income from its listed and private funds management platforms, operating profit after tax and minority interests grew 13 per cent year on year (yoy) to S$293 million. Together with portfolio gains from asset recycling, net profit attributable to shareholders climbed 14 per cent yoy to S$327 million.
Fee income from listed and private funds in H1 jumped 20 per cent from the same period a year ago to reach S$687 million.