PCRT distributable income slips 2.5%

Singapore

PERENNIAL China Retail Trust (PCRT), which owns and develops shopping malls in China, continued distributing income from earn-out funds while its malls are still under development.

It announced distributable income of $10.9 million for its fourth quarter ended Dec 31, 2013, down 2.5 per cent from $11.2 million a year ago. Gross revenue was $1.3 million, from none a year ago. Revenue came from Perennial Jihua Mall, Foshan, which began operations in the third quarter of 2013.