Singapore

CAPITALAND Retail China Trust (CRCT) posted a distribution per unit (DPU) of 2.59 Singapore cents for the first quarter ended March 31, down 5.8 per cent from 2.75 cents a year ago.

Gross revenue increased 1.1 per cent to S$55.96 million, underpinned by stronger rental growth from the core multi-tenanted malls, while net property income rose 7 per cent to S$39.8 million on the back of stronger rental growth and lower operating expenses.