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CRCT reports 5.4% rise in Q2 DPU on higher net property income

CAPITALAND Retail China Trust (CRCT) said on Wednesday that distribution per unit (DPU) for the second quarter ended June 30, 2015 was 2.73 cents, 5.4 per cent higher than the 2.59 cents a year ago.

This was on the back of net property income (NPI) of S$36.0 million for the quarter, 5.3 per cent higher than the S$34.2 million for 2Q 2014.

DPU for the firt-half of 2015 was 5.37 cents, an increase of 7.6 per cent from the 4.99 cents a year ago. Based on an annualised DPU of 10.83 cents and CRCT's closing price of S$1.625 per unit on July 28, 2015, the annualised distribution yield for H1 2015 was 6.7 per cent. Unitholders can expect to receive their DPU for H1 on September 22, 2015.

CRCT is a Singapore-based real estate investment trust which focuses on investing on a long term basis in real estate used primarily for retail purposes and located primarily in China, Hong Kong and Macau.

As at end June 2015, it owns a portfolio of ten shopping malls located in six China's cities. The properties are CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Grand Canyon, CapitaMall Shuangjing and CapitaMall Anzhen in Beijing; CapitaMall Qibao in Shanghai; CapitaMall Erqi in Zhengzhou; CapitaMall Saihan in Huhhot; CapitaMall Minzhongleyuan in Wuhan; and CapitaMall Wuhu in Wuhu in which CRCT has a 51 per cent interest.

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