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CapitaLand to get profit boost from China malls
Three Raffles City malls began operating recently.
CapitaLand's mall establishments in China is expected to boost the group's recurring income.
According to RHB analyst Vijay Natarajan, there were three Raffles City malls which opened recently, one in Hangzhou, another in Changning, and in Shenzhen.
Meanwhile, CapitaMall Westgate in Wuhan also opened in April, with a committed occupancy rate of 93%.
"The opening of these malls would lift recurring income from its China segment," the analyst said.
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