CapitaLand China Trust has reported net property income of RMB273.5 million for its 3QFY2025, down 8.5% y-o-y, due to lower gross revenue and absence of 3QFY2025 contribution from one its malls.
The CapitaMall Yuhuating was divested to CapitaLand Commercial C-REIT, which was recently listed in Shanghai.
Similarly, partly due to Yuhuating, gross revenue for CLCT in the same period was RMB416.6 million, down 8% y-o-y.
However, CLCT notes that its business park revenue was down 9.1% y-o-y because of lower occupancy at its Singapore-Hangzhou Science & Technology Park Phase II.
On the other hand, Shanghai Fengxian Logistics Park enjoyed a 13% y-o-y increase in revenue with better occupancy.
CLCT has lowered its gearing from 42.1% as of June 30 to 38.8% as of Sept 30.
It is constantly undertaking asset enhancement initiatives, such as in CapitaMall Wangjing and CapitaMall Xuefu.
CLCT units closed at 82 cents on Oct 29, unchanged for the day but up 11.64% year to date.
