CapitaLand

CapitaLand: intends to conduct a strategic review of its investment in its 59.3% owned Australand, currently valued at ~A$1.2b. Macquarie Capital, Fort Street Advisers and King & Wood Mallesons are to appointed advisors. Analysts had previous mooted that CapitaLand could be keen to divest its assets in non-core areas, to further enhance its capital recycling strategy in its key regions in Singapore and China. Separately, Trading Central notes the medium term ascending trend line in place since May ’12 has been strongly supporting the share price. Notes both the key moving averages are positively oriented and should limit any downward potential. Adds RSI is gaining momentum and stands firmly above the neutral level. Believes as long as $3.76 is not broken, expects a new rise towards $4 and $4.23 (Oct ’10 high) in extension.