New Year Message for 2014

The following is the email message to all staff from Mr Lim Ming Yan, President and Group CEO of CapitaLand Limited

Issue: Jan 2014

Mr Lim Ming Yan

Dear colleagues,

I would like to wish all of you a Happy and Prosperous New Year!

2013 was an exciting year for us. We started the year by realigning and simplifying our organisation into four core businesses – CapitaLand Singapore, CapitaLand China, CapitaMalls Asia and Ascott. We also realigned the Chinese name of CapitaLand in both Singapore and China into 凯德 for greater clarity and consistency.

In July, we completed the strategic review of CapitaLand’s businesses. Besides the four core businesses, we will continue to nurture and grow our three key investments namely Australand, Vietnam and StorHub, as well as our REIT and fund platform. In our core markets of Singapore and China, we will focus on six city clusters. They are Singapore, Beijing/Tianjin, Shanghai/Hangzhou/Suzhou/Ningbo, Guangzhou/Shenzhen, Chengdu/Chongqing, and Wuhan. These changes put us in an even stronger position to seize opportunities as a Group, reap more economies of scale and invest in product innovation. The growing market trend towards larger integrated developments is an opportunity for us to harness synergies across our various competencies. We will also continue to deepen our strengths in our shopping mall and serviced residence businesses internationally.

(Left) In September 2013, CapitaLand held the first ever TOP party to celebrate the completion of The Interlace; (Right) The Group has also partnered Changi Airport Group to jointly develop and own Project Jewel, which will be an iconic mixed-use development at Changi Airport
(Left) In September 2013, CapitaLand held the first ever TOP party to celebrate the completion of The Interlace; (Right) The Group has also partnered Changi Airport Group to jointly develop and own Project Jewel, which will be an iconic mixed-use development at Changi Airport

In Singapore, we welcomed the much anticipated opening of Bedok Mall and Westgate. We also partnered Changi Airport Group to jointly develop and own Project Jewel, which will be an iconic development at Changi Airport. Sky Vue, which complements Sky Habitat in Bishan, was launched to warm response from homebuyers. 410 of the 505 units launched were sold on its first day of sale and it was the best selling project in September. We also held the first ever TOP party to celebrate the completion of the iconic The Interlace condominium.

In China, we opened two malls last year – CapitaMall Meilicheng and CapitaMall Jinniu (Phase II) in Chengdu. We also acquired Han Zhong Lu project in Shanghai, CapitaMall Grand Canyon Mall in Beijing, Baiyun Greenland Centre mall in Guangzhou and the Gutian site in Wuhan. In total, we now have 62 malls in operation and under development across 37 cities. We have also integrated our value housing and Surbana’s township business into CapitaLand China and fine-tuned its strategy to focus on mass market, first-time homebuyers, upgraders and larger scale projects. As at September 2013, we have handed over nearly 1,600 units mainly from four residential projects - The Paragon and The Pinnacle in Shanghai, Beaufort in Beijing and The Loft in Chengdu.

Ascott has began operations at Raffles City Chengdu
Ascott has began operations at Raffles City Chengdu

Last year, Ascott added 22 properties with more than 3,700 apartment units to its global portfolio. In China, it crossed its milestone of 10,000 apartment units, cementing its leadership position as the largest international serviced residence owner-operator in the country with 56 properties across 20 cities. Ascott also began operations at Raffles City Chengdu. In recognition of Ascott’s efforts in product and service excellence, it was awarded the prestigious World's Leading Serviced Apartment Brand at the 2013 World Travel Awards.

While we work hard to satisfy our stakeholders and generate returns for our shareholders, we are mindful of the less privileged among us. CapitaLand is a company with a soul and we continue to live out our core values through various corporate social responsibility initiatives in Singapore and overseas. In November, we organised our first CapitaLand Volunteer Day in Singapore where 200 staff took time off to help 20 underprivileged families refurbish their homes and create study corners for their children. In the same month, 80 CapitaLand staff and community volunteers joined our effort in the Sichuan Post-earthquake Rebuilding Project.

(Left) 80 CapitaLand staff and community volunteers participated in the Sichuan Post-earthquake Rebuilding Project in China to make a difference; (Right) 200 CapitaLand staff volunteers spent a fulfilling day to improve 20 homes of the underprivileged at the Group’s first Volunteers Day in November 2013
(Left) 80 CapitaLand staff and community volunteers participated in the Sichuan Post-earthquake Rebuilding Project in China to make a difference; (Right) 200 CapitaLand staff volunteers spent a fulfilling day to improve 20 homes of the underprivileged at the Group’s first Volunteers Day in November 2013

Moving on to something equally close to your hearts, we have announced that CapitaLand will soon be housed under one roof at Capital Tower progressively from this month. CapitaHub, our new office in Singapore, is designed to allow you to work, live and play in a single centralised location. I believe that by co-locating within the same building, it will instill in us a greater sense of belonging and enable us to network and collaborate better, as well as work closer as a team across the Group.

I would like to thank the Board, management team and staff for the support and encouragement given to me in my first year as President & Group CEO of CapitaLand. Thank you for being a part of the journey to make CapitaLand a pre-eminent and leading real estate company in Asia.

We have started the journey to transform CapitaLand last year. Looking ahead, we have to constantly remind ourselves that the market place is changing very fast and we have to stay ahead of our competition by remaining competitive and relevant. We must continue our effort to transform CapitaLand in 2014.

The US Federal Reserve has started “tapering” by reducing bond purchases. China has restarted its economic reform where the market will now play a “decisive” role. At the same time, Singapore has announced its latest masterplan providing us with an exciting glimpses of Singapore in 2030. With a streamlined organisation, a clear strategic direction and continued focus on strengthening as well as harnessing synergies in our core businesses, I believe we are well positioned to seize the opportunities for sustainable growth.

Have an exciting and a great 2014!

Warmest regards

Lim Ming Yan

Comments
User Choong
118.200.15.X | 2016-07-27 11:25:12
Dear Mr Lim,

I am an owner and resident of Interlace. Ever since I moved into my flat I have to tussle first with Capital Land and now with management over the stench emitted 4 times a time from the rubbish centre into my flat. Mine you I am on the 9th floor I really pity my neighbours on the lower floors. Until now I still feel that ultimately responsibility lies with the design of Interlace's rubbish centre as approved by Capital land. How could Capital Land with social conscience allow this to happen? I also heard from relevant people that the same problem plagued D Leedon.
Grateful for your taking interest in this matter. Because after 3 years I have almost given up hope.
User CapitaLand
202.79.215.X | 2016-08-01 10:53:56
Dear Choong,

Sorry to hear about your experience. We have conveyed your feedback to the team and asked them to follow up on it. If you need further assistance, please do not hesitate to email us at ask-us@capitalandsingapore.com with further details. Thank you.
User Kansa
188.143.232.X | 2016-03-02 19:02:55
You're partially wrong.If you pay $15,000 a year in inertest and property taxes AND you are in the 15% tax bracket, you get to reduce that $15k from your income. This means you will pay $2,250 less in federal income taxes. So in other words, you are paying $15k to save $2k. It's not good business sense, but it's better than not saving anything but that's not the entire story it gets worse.You only get to deduct the $15k IF AND ONLY IF you itemize your deductions (instead of taking the standard deduction). If you are married, your standard deduction is $11,400 ($5,700 if you are single).Since you are paying $15k in inertest/taxes, you get to deduct an extra $3,600 than you otherwise would have been entitled to anyway. Therefore, your net tax benefit really isn't $2,250. It's only $540 (15% of $3,600).But wait it gets worse You are only paying $15k in inertest/property taxes the FIRST YEAR of the mortgage. Keep in mind that part of your mortgage payment goes to principle. While your payment each year will be the same, the amount going towards principle and the amount going towards inertest will change. Eventually, that $15k payment each year will only be a few thousand worth of inertest at which point there is ZERO tax benefit. http://ljfxjlo.com [url=http://efqxxckak.com]efqxxckak[/url] [link=http://tjqaiia.com]tjqaiia[/link]
User Vijay
221.178.182.X | 2016-02-14 12:40:11
I once had a patient who was a baenkr.During the recession, during small talk I just mentioned that baenkrs are having it difficult right now.And he laughed it off.He told me that recessions are usually at most 2 years or shorter.During the normal years most bank staff are paid 6-12 months of bonus at the end of the year.During good times they are paid 18 months and above of year end bonus.Prior to 2007-2008, they were paid bonuses close to 3-4 years of salary.So even if the baenkr lost his job for 2 years, he still has enough from the bonuses to cover him.And it gets better. Because they know the lending climate, they know when to buy and sell assets eg property. They buy when the prices have dropped and lending activity is coming up again and they sell when prices have peaked and are declining with a drop in lending activity. Those 3 years of bonus easily becomes 5 years of salary in cash.He told me that banking was the best job in the world.I replied that I thought medicine was good because it was recession proof. Income is steady.He replied "Well I guess it is good if you plan on working till you die. But most baenkrs want to retire by age 45 or earlier"Here the public is crying foul over 24M charged to the Brunei Royal Family. Not some average middle class HDB dweller mind you.What was the value of losses all those Lehmann mini bonds cost average investors living in HDB flats?It's a joke frankly. I am sure the baenkrs and lawyers must be shaking their heads with complete sympathy for doctors. I know my ex-classmate who is a lawyer told me it is so ridiculous that we have to be subject to abuse of being greedy over a few hundred or a few thousand dollars from our patients. You should see the multiples of millions that companies and businesses throw around everyday in the world of corporate law.
User manuel mauritz
140.206.88.X | 2014-03-29 20:04:05
dear mr lim ming yan,
our company operates 2 storage facilities in shanghai (out nother company is www.myplace.at) and we would like to get in touch with your company in regard to your ccompanies storage activites in shanghai (storhub). please let me know who we can contact.
thank you manuel
User CapitaLand
202.79.215.X | 2014-03-31 11:56:47
Hi Manuel,

Thank you for your interest in StorHub. We have forwarded your query to the StorHub team and they will be in contact with you shortly.
User manuel
140.206.88.X | 2014-03-31 14:02:52
Dear Mr Lim Ming Yan, yes your Shanghai representative just send me an email. Thank you. However the reason I would like to contact you was that I received information regarding Storhub Shanghai which would require higher management attention. I do not want to write this on a public blog. Please let me know if there is an alternative way to contact you. thank you very much manuel
User CapitaLand
202.79.215.X | 2014-04-10 13:43:20
Dear Manuel,

Thank you for your message.

Please feel free to write to inside@capitaland.com and we will forward your letter to the relevant parties.

Have a great day ahead.
User fhsiarchitects
86.97.97.X | 2014-01-28 01:19:43
Dear Mr Lim Ming Yan,

firstly congratulation on an impressive and great organisation.It is great to see clever, good initiative developers still exists in this world to create real meaningful architecture. I was the design Director of Aedas for many years and my colleague Tom politowitcz was design director of Foster and partner for 25 years who has worked for CapitaLand in the past.

We are an Australian boutique Design practice based in Dubai, Sydney and Perth specialising in Architecture, Interiors and Master planning.

We will be visiting Singapore between 9th -13th of February 2014. We would appreciate if you could spare 10 minutes of your time so we can introduce fhsiarchitects to CapitaLand.

Our recent projects include Twin Towers ( BUA 65,000 sqm) in Business Bay for Omniyat properties (www.omniyat.com) with steve leung which is due to start Construction in 3 Months, a 50 story tower for Sheraton Metachi Hotel in Tbilisi Georgia, Sheikh Mohammad Bin Rashid City Villas for Emaar and many other project both locally And internationally..

Should you require any further information, please do not hesitate to contact me on 00971501800650 or alternatively please feel free to visit our Website www.fhsiarchitects.com

Look forward to hearing from you.

Regards
fariborz Hatam
founder
fh@fhsiarchitects.com
User CapitaLand
202.79.215.X | 2014-01-30 11:53:17
Hi Fariborz,

Thank you for the kind information.

We will keep the details in record for future collaboration opportunities. Thank you.
User fhsiarchitects
86.97.97.X | 2014-01-30 23:37:37
We would appreciate if we can meet any project director to introduce fhsiarchitects while we are in Singapore between 9-13th February 2014.
User fhsiarchitects
86.97.97.X | 2014-01-28 00:57:03
Mr Lim Ming yan congratulation on a wonderful success. It is great see that we still have great developers in this world. We are an Australian boutique Design practice based in Dubai, Sydney and Perth specialising in Architecture, Interiors and Master planning.

We will be visiting Singapore between 9th -13th of February 2014. We would appreciate if you could spare 15 minutes of your time so we can introduce fhsiarchitects to CapitaLand.

Our recent projects include Twin Towers ( BUA 65,000 sqm) in Business Bay for Omniyat properties in Dubai (Starting Construction in 3 Months), a 50 story tower for Sheraton Metachi Hotel in Tbilisi Georgia, Sheikh Mohammad Bin Rashid City Villas for Emaar and many other project both locally And internationally..
please do not hesitate to contact me on 00971501800650 or visit our website www.fhsiarchitects.com
User Phyllis Pnh
118.200.106.X | 2014-01-15 16:50:15
Capitaland report card has been impressive and is great that the organization also participate actively in community work.
Well done!
User Lim Ming Yan
202.79.215.X | 2014-01-16 08:52:36
Thank you for your encouraging comment. Indeed CapitaLanders have worked hard to achieve the outcome I mentioned in my message. However, we still have plenty to work on in 2014!
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