Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
CAPITALAND Retail China Trust (CRCT) reported on Wednesday that its distribution per unit (DPU) for the second quarter ended June 30, 2016, stood at 2.61 Singapore cents, down 4.4 per cent from 2.73 Singapore cents a year ago.
Net property income was 1.5 per cent lower, at S$35.5 million, compared to S$36.04 million a year ago. Income available for distribution slipped 2.5 per cent to S$22.37 million, from S$22.94 million a year ago.
For the first half of 2016, DPU was 5.32 Singapore cents, compared to 5.37 Singapore cents a year ago. Based on an annualised DPU of 10.7 Singapore cents and CRCT's closing price of S$1.61 per unit on July 26, 2016, the annualised distribution yield for the first-half 2016 was 6.6 per cent.
Tony Tan, CEO of CapitaLand Retail China Trust Management, the manager of CRCT, said in the first half of 2016, the malls registered 4.6 per cent growth in net property income and rental reversion was 5.9 per cent. Portfolio occupancy on June 30, 2016, remained steady at 94.9 per cent.
CRCT owns and invests in a portfolio of 10 shopping malls located in six of China's cities, including Beijing and Shanghai.