Added 10,000 shares of CapitaLand Investment (CLI) at $2.48 on 18 Apr 2024.
Reason for buying:
1) 52w low
Trying my luck to queue at $2.48 when the share price was hovering around $2.52 at that time.
Their restructuring launch price was $2.95 on 20 Sep 2021
2) Share buyback in Jan 2024
CLI did 11 days of share buyback in Jan 2024 alone.
The share buyback price range between $2.90 to $3.01
3) 12 cents Dividend
At my buy price of $2.48, 12 cents dividend is 4.8% going XD on 2 May 2024. Although the dividend is nothing to shout out loud, I will treat it as a bonus. Dont think I will be holding this for long term as this is more of a growth stock play rather than dividend play.
4) Doubling their FUM to S$200B in 5 years
CLI have been on asset light approach few years back and have set a new target of S$200B in 5 years time. This will improve their recurring fee. Doubling from $100B to $200B FUM within 5 years is quite aggressive.
5) PB 0.9
Based on their divestment history, CLI always manage to divest their asset at a premium %. This would mean their NAV was conservative.
Related post:
