http://crct.listedcompany.com/newsroom/20160727_062442_AU8U_0NONTEZ8V6QUDNOR.2.pdf
Singapore, 27 July 2016 – CapitaLand Retail China Trust Management Limited (CRCTML), the manager of CapitaLand Retail China Trust (CRCT), announced today that it achieved net property income (NPI) of RMB339.3 million for the period from 1 January to 30 June 2016 (1H 2016), 4.6% higher than the RMB324.4 million for the corresponding period in 2015 (1H 2015).
Distributable income for 1H 2016 notched up 1.0% to S$45.6 million and distribution per unit was 5.32 cents. Based on an annualised DPU of 10.7 cents and CRCT’s closing price of S$1.61 per unit on 26 July 2016, the annualised distribution yield for 1H 2016 was 6.6%. For the quarter from 1 April to 30 June 2016 (2Q 2016), CRCT’s NPI grew 2.5% to RMB169.9 million. DPU for the quarter was 2.61 cents.
Mr Victor Liew, Chairman of CRCTML, said: “Against a backdrop of global economic uncertainties and weakening demand, China has maintained steady growth by spurring economic activities on its domestic front. Driven mainly by growth in consumption, China’s GDP rose 6.7% in the first half of 2016, which is in line with its government’s growth target of 6.5% to 7.0% for the year. In the same period, retail sales increased 10.3%. These signs of
stabilisation in China’s economy reflect the government’s commitment to achieve sustainable growth, and we continue to be positive on China’s long-term retail growth prospects.” Mr Tony Tan, CEO of CRCTML, said: “In the first half of 2016, our malls registered 4.6% growth in net property income and rental reversion was 5.9%. Portfolio occupancy as at 30 June 2016 remained steady at 94.9%.
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