CapitaLand ups payout ratio despite deep revaluation losses on malls

Singapore

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.