Write an article about
[SINGAPORE] CapitaLand China Trust’s (CLCT) distribution per unit (DPU) for the six months ended Jun 30 fell 17.3 per cent to S$0.0249, from S$0.0301 in the year-ago period.
This was due to lower net property income (NPI) and a weaker renminbi against the Singapore dollar, which was partially offset by savings in finance costs.
Including contributions from CapitaMall Yuhuating, which were retained in view of its divestment to CapitaLand Commercial C-Reit as a seed asset, DPU would have been S$0.0259, said the manager on Wednesday (Jul 30).
In actual Singapore dollar terms, NPI fell 9.7 per cent to S$106.5 million from S$117.9 million previously on lower revenue, which was partially offset by cost savings of 2.5 per cent year on year.
Revenue for H1 declined 7.9 per cent to S$159.2 million from S$173 million in actual Singapore dollar terms due to a drop in retail revenue and business park revenue.
CLCT’s retail portfolio was largely affected by ongoing supermarket upgrades at three malls, while its business park portfolio recorded lower occupancy. Retail revenue was down 3.3 per cent year on year, while business park revenue fell 10.1 per cent.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
However, this was partially offset by a stronger performance in CLCT’s logistics parks portfolio, which increased 2 per cent year on year.
In actual Singapore dollar terms, the amount available for distribution to unitholders was down 11.9 per cent at S$45.2 million, from S$51.3 million in the year-ago period.
The payment date for CLCT’s H1 DPU is Sep 24, after the record date for income distribution on Aug 7.
Units of CLCT ended flat on Tuesday at S$0.78.
Copyright SPH Media. All rights reserved.
in html format .Organize the content with appropriate headings and subheadings ( h2, h3, h4, h5, h6). Include conclusion section and FAQs section with Proper questions and answers at the end. do not include the title. it must return only article i dont want any extra information or introductory text with article e.g: ” Here is rewritten article:” or “Here is the rewritten content:”
