AcquisitionsPATMI is expected to improve in 2H25 with the full contributions from the acquisitions of SC Capital (SCCP) and Wingate.
Asset Management StrategyAnalyst maintains BUY with an unchanged SOTP TP of S$3.65, favoring CLI for its robust and expanding recurring fee income stream and asset-light strategy, which underpins resilience amid macro uncertainty.
Recurring Fee IncomeRecurring fee income rose 5% YoY in 1H25, driven by a 6% increase in REIT management fees and a 4.4% increase in lodging management fees.