Capitaland

0333 GMT [Dow Jones] CapitaLand (C31.SG) can expect to own more than 200malls in China from about 100 now as developer continues to expandportfolio of shopping centers, says UBS, which rates stock Buy with S$10.60target. Company this week signed agreement with China Vanke (000002.SZ) todevelop retail malls, townships in China. No details given but UBS saysdeal likely to give CapitaLand access to at least 35 new malls across 24cities. Says move allows company to consolidate position as leading retailmanager in China; "this should increasingly allow CapitaLand to controlclusters of assets in the various markets, increasing the leasing controland flexibility." Stock flat at S$7.80. (FKH)