CapitaLand ups payout ratio despite deep revaluation losses on malls
Massive impairments, revaluation losses push group S$1.57b into the red for its first full-year loss
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HEFTY impairments and revaluation losses, including for ION Orchard and Jewel Changi Airport, pushed CapitaLand into its first full-year net loss in almost two decades.
The non-cash items, which largely stemmed from pandemic-related extraordinary events, also led to the property behemoth falling into the red for the second half of 2020 with a net loss of S$1.67 billion, from a S$1.26 billion profit a year ago.
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