CICT's Q1 net property income surges 66% post merger
Stronger performance reflects merger with CCT, which was completed in Oct 2020
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Singapore
CAPITALAND Integrated Commercial Trust (CICT) posted gross revenue of S$334.8 million for the first quarter ended March 31, 2021. Net property income (NPI) for the quarter rose 66 per cent to S$247.1 million.
For the corresponding quarter in 2020, CICT - which was then known as CapitaLand Mall Trust (CMT) - reported gross revenue of S$204.3 million and NPI of S$148.3 million.
CICT's stronger Q1 2021 financial performance, which was disclosed in a voluntary business update file…
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