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CapitaRetail China Trust says Q3 distributable income, DPU up slightly

Posted on 24 Oct 2009 | Comments Off

CapitaRetail China Trust (CRCT) said on Friday that its third quarter distribution per unit (DPU) is 2.02 cents. This is 0.5 per cent higher than the 2.01 cents DPU announced over the same period last year and 4.5 per cent more than the previous quarter’s DPU.

Distributable income for the period ended in September is S$12.6 million, 1 per cent more than last year’s S$12.4 million. Net property income was also marginally higher at S$18.2 million, an on-year increase of 0.7 per cent.

CRTC said appreciation of the Chinese yuan against the Singapore dollar and an increase in occupancy rates boosted its earnings. It added that retail sales in China remained strong, underpinned by the Chinese government’s measures to increase domestic consumption.

CRCT remains confident of its ability to refinance its debts when they mature, with interest rates expected to be in line with general market conditions.

Source : Channel NewsAsia – 23 Oct 2009

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Posted in Funds

Tagged CapitaRetail China Trust, Funds, Singapore REITS

CMA listing won’t hurt CMT, CRCT performance

Posted on 9 Oct 2009 | Comments Off

WE refer to the Hock Lock Siew commentary, ‘Spinoff by CapitaLand: Will Reit units lose out?’ (BT, Oct 8).

We would like to assure investors that the business model and financial performance of CapitaMall Trust (CMT) and CapitaRetail China Trust (CRCT) will not be affected by the listing of CapitaMalls Asia (CMA).

Being real estate investment trusts (Reits), CMT and CRCT offer stable and sustainable distributions, primarily from the rental income derived from their portfolio of properties.

Further, they will continue to enjoy the right of first refusal for CMA’s completed and stabilised shopping mall pipeline in Singapore and China respectively.

CMA, on the other hand, will primarily focus on the development or redevelopment of shopping malls (including greenfield malls) and the management of retail property funds. Its focus will be more on growth and less on dividend payout – similar to other real estate development companies. Continue reading →