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Market Daily Report: Bursa Malaysia Erases Early Gains To End Lower On Profit-Taking

KUALA LUMPUR, Feb 4 (Bernama) -- Bursa Malaysia erased early gains to end lower today as profit-taking emerged following recent gains.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.44 points, or 0.31 per cent, to 1,742.82 from yesterday’s close of 1,748.26.  The market bellwether opened 1.84 points lower at 1,746.42, and subsequently hit an intraday high of 1,751.22 in early trade before slipping to its day’s low of 1,740.49 during the mid-afternoon session. In the broader market, losers outpaced gainers 602 to 462, with 558 counters unchanged, 1,013 counters untraded and six suspended. Turnover declined to 2.59 billion shares valued at RM2.86 billion from yesterday's 3.25 billion shares valued at RM3.34 billion.
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Hongkong Land Rolls Out US$6.4bn Singapore Office Fund, Steps Up Capital Recycling

Summary

Hongkong Land has launched its first private real estate fund, seeded with US$6.4 billion of prime Singapore commercial assets, marking a key step in its strategy to recycle capital, expand third-party funds management, and scale towards US$100 billion in assets under management by 2035.

Key Highlights

  • First private fund launched: Singapore Central Private Real Estate Fund

  • Seeded with S$8.2bn (US$6.4bn) of Singapore CBD office assets

  • Target size: At least S$15bn gross asset value within five years

  • Portfolio occupancy: 96%, reflecting tight CBD office supply

What’s Inside the Fund

The perpetual, open-end fund holds interests in office-led Marina Bay assets, including:

  • Asia Square Tower 1

  • One Raffles Link

  • Marina Bay Financial Centre Towers 1 & 2

  • Marina Bay Link Mall

  • One Raffles Quay

Strong Institutional Backing

  • Hongkong Land remains majority owner and fund manager

  • Founding investors include:

    • Qatar Investment Authority

    • APG Asset Management

    • A Southeast Asian sovereign wealth fund

  • Committed equity: S$4.1bn

    • Over S$1.8bn from third-party investors

  • Additional institutional investors may join as early as 2H 2026

Capital Recycling & Shareholder Returns

  • Fund launch + sale of MBFC Tower 3 generated US$1.3bn net proceeds

  • Total capital recycled since 2024: US$3.4bn

    • Over 80% of its US$4bn target by 2027

  • Share buyback expanded by US$300m

    • Total buybacks since 2024 now US$650m

    • Programme runs through 2027

Why It Matters

  • Validates Singapore CBD offices as a core institutional asset class

  • Accelerates Hongkong Land’s shift to a capital-light, fund management model

  • Enhances recurring fee income while maintaining balance sheet flexibility

  • Supports long-term ambition to become a major global real estate investment platform

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