An update from CapitaLand Investment Limited ( (SG:9CI) ) is now available.
CapitaLand China Trust (CLCT) reported a net property income of RMB1,219.1 million for FY 2024, experiencing a 5.8% year-on-year decline due to reduced contributions from certain malls and lower performance in business and logistics parks. Despite these challenges, the retail sector showed robust performance with a 13.7% increase in net property income from three malls after asset enhancement initiatives. The trust also strategically leveraged lower RMB interest rates to reduce its debt costs and issued new bonds to replace higher-interest loans, aiming to increase its RMB-denominated debt proportion.
More about CapitaLand Investment Limited
CapitaLand China Trust (CLCT) is a significant player in the real estate industry, focusing on retail properties, business parks, and logistics parks in China. Its largest asset class is the retail sector, contributing significantly to its gross rental income.
YTD Price Performance: -6.11%
Average Trading Volume: 9,496,359
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$12.6B
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