Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Wed, 11 August 2021

CapitaLand Shareholders Approve Proposed Restructuring and Listing

CapitaLand shareholders have voted overwhelmingly in favour of the Proposed Strategic Restructuring and Listing of CapitaLand Investment.

CapitaLands investment management platforms, as well as its lodging business, will be consolidated into CapitaLand Investment Limited, which will be listed by introduction on the Singapore Exchange (SGX-ST); while the real estate development business of CapitaLand will be placed under private ownership, to be fully held by CLA Real Estate Holdings Pte. Ltd. (CLA).

More than 3,400 CapitaLand shareholders voted by proxy at the Extraordinary General Meeting (EGM) and the Scheme Meeting held digitally on Tuesday.

At the EGM, approximately 99.59% of the total number of votes were in favour of the resolution to approve the Capital Reduction and Distribution in Specie.

Raffles City Chongqing, China. Click to enlarge.

At the Scheme Meeting, the resolution to approve the Scheme of Arrangement received approval from approximately 97.58% of the number of shareholders holding approximately 99.80% in value of the total number of CapitaLand shares voted.

Mr Lee Chee Koon, Group CEO, CapitaLand Group, said, I would like to thank our shareholders for the resounding support. I am deeply humbled by and grateful for their trust. With CapitaLands restructuring off to a positive start, we can now push ahead with confidence to execute and deliver on our commitment. From September 2021, CapitaLand will operate as two clearly defined entities: CLI, CapitaLands listed global real estate investment  management business, and the privatised CapitaLand Development (CLD) with its extensive property development capabilities. These two core entities will complement and mutually reinforce each other. They represent the future of CapitaLand.

 We are prepared for the exciting challenge that lies ahead. As the market increasingly starts to appreciate the value of real estate investment managers (REIMs), we expect to see more Asian-based REIMs emerge. This will mean stronger competition for capital, but also more opportunities as global capital flows into Asia. As one of the leading listed real estate fund managers in the world with a strong foundation in Asia, CLI is in a good position to tap these opportunities. To ensure that CLI retains its distinctive competitive advantages, we will capitalise on our strengths and exploit the synergies between CLI and CLD under the unique and vibrant ONE CapitaLand ecosystem. We will stay disciplined in uncovering and unlocking value for shareholders, and will remain a good steward of the funds that our shareholders and capital partners have entrusted us with.

Upon listing on SGX-ST, CLI is expected to become a leading listed REIM globally with pro forma total real estate assets under management of approximately S$115 billion as at 31 December 2020. On a pro forma basis, as at 31 December 2020, CLI had approximately S$78 billion of real estate funds under management (FUM) held via its managed Listed Funds and Unlisted Funds across the Asia-Pacific, Europe and USA.

Subject to (i) obtaining the Courts orders approving the Capital Reduction and Distribution In Specie and sanctioning the Scheme and (ii) the satisfaction and/or waiver of other conditions of the Scheme, the Proposed Transaction is expected to be completed in or around mid-September 2021, upon which CapitaLand will be delisted from SGX-ST and CLI will be listed on SGX-ST.

See latest Travel Industry News, Video Interviews, Podcasts and other news regarding: CapitaLand, Ascott, Citadines, lyf, Singapore.

Headlines: Banyan Tree to Launch 5 New Brands; Double Footprint by 2025  Global Recovery in Air Travel Continued in October  Bangkok Riverside Fest to Take Place 25-27 February  Malaysia Airlines to Trial Flymingo Connect IFE System  IHG Appoints Adeline Phua as Director of Development SEA and Korea  Jonathan Crook to Move from New York to Istanbul as MD of The Peninsula Hotel  Hong Kong Tightens Inbound Control Measures; Adds Countries to Group A  IAG Signs NDC Agreement with Travelport  Accor Signs Two Hotels in Conakry, Guinea  Emirates to Resume Flights to Abuja and Lagos, Nigeria  Cathay Pacific to Add HBO Max Originals to IFE in January 2022  Global Demand for Air Cargo Continues to Grow; Up 10.4% in October  Archipelago Signs Distribution Agreement with Sabre  Bangkok Airways Resumes Flights to Phnom Penh, Cambodia  Amanda Hyndman Returns to Hong Kong as GM and AVP of Operations  ITA Airways Orders 28 Airbus Aircraft  United Airlines Makes History with Special SAF Flight  Millennium to Transition Hotels to IDeaS G3 RMS  PW812D Certification Moves Falcon 6X a Step Closer to Entry into Service  American Airlines Signs New SAF Offtake Agreement with Aemetis  Cebu Pacific Takes Delivery of 459-Seat Airbus A330neo  Hilton Signs Waldorf Astoria in Osaka; Conrad Hotel in Chongqing  Paul King Returns to Maldives as Executive Chef of Dusit Thani Resort  Blanket Travel Bans Will Not Prevent International Spread of COVID19  Embraer Signs MOU with Pratt & Whitney to Test 100% SAF in E195-E2s  Qatar Airways to Launch Flights to Tashkent, Uzbekistan  Cathay Pacific Cargo Launches Click & Ship Digital Booking Platform  Ligula Hospitality Selects Atomize as RMS Provider  Relief Packages at HKIA Extended Until End-January 2022  Malaysia Airlines Launches VTL Flights Between KL and Singapore  China Airlines Takes Delivery of First A321neo Aircraft  Vietnam Airlines Launches First Scheduled Flights to USA  Year13 to Help Accor Recruit 1,200 People in Australia  Accelya Appoints Jim Davidson as President and Chief Strategy Officer  ECLIF3 Study Resumes with 100% SAF Powering Both Engines of A350  Waiting for May Restaurant to Open in Chiang Mai on 5 December  AirAsia Launches VTL Flights Between KL and Singapore  Alannia Resorts Upgrades PMS  Finnair Launches New Tool to Verify COVID19 Vaccine Certificates  Qatar Hosts Inaugural FIFA Arab Cup  Ritz-Carlton Opens Hotel in Harbin, China  Garuda Indonesia Signs MOU with Singapore Airlines  Qantas to Expand FFP with Green Membership Tier  Vietjet Signs Agreements with SR Technics and Swiss Aviation Software  Starlux Airlines to Launch Flights Between Taipei and Fukuoka, Japan  ADE Completes First Installation of Inmarsat's GX Aviation on an AirAsia A320  Singapore Airlines Opens Ticket Sales on More Vaccinated Travel Lanes  JW Marriott Orlando Bonnet Creek Resort & Spa Opens Four Family Suites  B.1.1.529 Concerns Lead UK to Ban Passenger Planes from Six Countries in Africa  Accor Wins Naming Rights for Stadium Australia in Sydney  Hong Kong Int. Airport's Flight Token Wins Best Innovation Award  ADNEC Continues Diversification with Acquisition of Etihad Holidays  Air Astana to Resume Flights Between Almaty and New Delhi, India  Minor Hotels Expands Anantara Brand to Budapest, Hungary  Emirates Signs Codeshare Agreement with airBaltic  Qantas Unveils Plans for Queensland Network  Malaysia Airlines Signs MOU with UCSI Group  Smiths Detection and Microsoft Working to Combat Wildlife Trafficking  Marriott Opens 7th Hotel in Melbourne, Australia  Embraer Showcasing E195-E2 TechLion at Selangor Aviation Show  Singha Estate Breaks Ground on New Resort in Maldives  Singapore Airlines Launches Flight Pass  Bangkok Airways to Resume Flights from Samui and Phuket to U-Tapao  China Airlines Testing New Wireless IFE System on Boeing 737-800s  CBRE Appoints Chris Ely as Head of Hotel Asset Management, Asia  Asia Pacific Airlines Report October 2021 Traffic Figures  Alessio Minetto Joins The Woodward, Geneva as GM  Singapore Airlines and Scoot to Resume Flights to India  Dusit to Manage Ananda's New Residential Project in Bangkok  Martin Fabiano Returns to Jakarta as GM of the Sari Pacific Hotel  Chidchanok Pasinpong Appointed GM of the Avani Sukhumvit Bangkok Hotel  IATA Publishes Blueprint for Simplifying Travel  Korea Tourism Organization Uses Extended Reality for Extensive New Campaign  Amadeus Research Looks at Importance of Transparent Pricing for Airlines  Embraer Signs MOU with Royal Netherlands Aerospace Center  Sandra Watermann Appointed Cluster GM of Two Hotels in Phuket, Thailand  CMA CGM Signs Binding MOU with Airbus for Four A350F Aircraft  Hi Fly Airbus A340-313HGW Makes History with Antarctica Flight  Malaysia and Singapore Airlines to Expand Codeshare Agreement  Sabre Moves from Pilot to General Launch of NDC Content in GetThere  Qantas Accelerates Return of Airbus A380 to Service  Marriott Signs Second W Hotel in Dubai  Indonesia Orders Two Airbus A400M Aircraft; Signs LOI for 4 More  Air Tanzania Orders 4 Boeing Aircraft at Dubai Airshow  Darren Darwin Appointed GM of Avani+ Khao Lak Resort in Thailand  Executive Appointments at CWT  Cathay Pacific Reports Increase in Cargo and Passenger Numbers  Four Seasons Jackson Hole Appoints Sean Casserly as Resort Manager  Emirates A380 to Operate One of Three Daily Return Flights to Bangkok, Thailand  Accor Partners Qantas for Double Loyalty Rewards  TUI Signs Distribution Agreement with Sabre Hospitality Solutions  Naowarat Arunkong Returns to Hua Hin as Cluster GM of Two Resorts  SITA Upgrading Passenger Experience at Frankfurt Airport with 87 TS6 Kiosks  Boeing 777-9 Visits Qatar Airways in Doha  Airbus Partners Thales and Diehl for eVTOL Development  BA and AA Offer Free COVID19 Test Kits to Business Class Travellers  flypop Partners Hi Fly to Launch Zero LOPA Cargo Operations  Eve Partners Senna for eVTOL Inspiration  Singapore Airlines Unveils New Economy and Business Class Cabins  Cathay Pacific / HSBC Hong Kong Sevens 2022 Moved from April to November  New Indian Airline Orders 72 Boeing 737 MAX Aircraft  ATPCO to Update Industry Collaboration Framework with Two New Councils  New Japanese Airline Signs LOI with ATR  BEIA Appoints Steve Armitage as Independent Chair  Emirates Orders Two Boeing 777 Freighters at Dubai Airshow 2021  Alpha Star Aviation Becomes Launch Customer of ACJ's New IFE Technology  IATA Warns of Skilled Labor Shortage for Ground Handling Providers  Russian Helicopters Establishes Alpha Aviation JV in UAE  ALC Signs LOI for 111 Airbus Aircraft; Becomes Launch Lessor for A350F  IATA Appoints Marie Owens Thomsen as Chief Economist  Korean Air Receives Vietnam's Approval for Asiana Acquisition  Six Senses Signs Very Special Hotel in Lisbon, Portugal  United Airlines Increases Flights to Las Vegas for CES 2022  TAROM Orders Three ATR 72-600 Aircraft  Spain Orders Three Airbus A330MRTT Aircraft  DHL Express Orders Nine More Boeing 767-300BCFs  UAE Air Force & Air Defence Orders Two Airbus A330MRTT Aircraft  Indigo Partners Orders 255 A321neo Family Aircraft at Dubai Airshow  Korean Air Reports Q3 Profit; Cargo Breaking Records  Boeing to Open Three More Passenger to Cargo Conversion Lines  HKIA Reports Increase in Cargo and Passenger Numbers in October  Thai AirAsia Reports Q3 2021 Results  Cathay Pacific to Require All Eligible Aircrew to Get Third Dose of COVID19 Vaccine  Binter Canarias Orders Four ATR 72-600 Aircraft  Court Approves CWT's Recapitalization Plan  SIA Expects Passenger Capacity to Reach 43% of Pre-COVID Levels by December  Boeing to Showcase 777X at Dubai Airshow  United Airlines to Launch Flights to Amman, Jordan  Mandarin Oriental Reports First Profit Since Q4 2019  Envision Digital and SITA to Develop Net Zero Carbon Solutions for Airports  Embraer Starts Building Hungary's First KC-390 Millennium Aircraft  Qatar Cargo First to Implement IATA CO2NNECT  Elbit Systems to Upgrade Electronic Warfare Capabilities of UK's Royal Navy  SLH Signs First Hotel in Sapporo, Japan  PPHG Appoints Cristian Nannucci as GM of Two Properties in KL  AirAsia Group Appoints Colin Currie as CCO  China Southern Expands Codeshare Agreement with Qatar Airways  Fello'fly Could Significantly Boost Environmental Performance of Aircraft  SITA Develops Solution for Offline EPL Verification  Thai Cargo to Operate Flights to 30 Destinations in Winter Schedule  Eve Partners Widerøe Zero to Develop eVTOL Operations in Scandinavia  Courtyard by Marriott Hotel Opens in Phuket Town, Thailand  IHG Appoints Mark Winterton as GM of voco Orchard Singapore  Pan Pacific Signs Two Properties in Kuala Lumpur, Malaysia  Travellers Must be Fully Vaccinated to Fly with AirAsia Malaysia  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS News Feed and Ticker  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Receive our Latest Travel News Daily Email free of charge by entering your email address and name in the boxes to the right and clicking subscribe. By subscribing, you agree with Revue's Terms of Service and Privacy Policy. You can also receive the news by WhatsApp, stay updated with our RSS Feed Travel Industry News by TravelNewsAsia.com, and even Add the Headlines to Your Website free of charge. Have questions? Please read our travel news FAQ.

     
Advertising
Advertising
Copyright © 1997-2021 TravelNewsAsia.com