CapitaMalls Asia's earnings pegged to hit a whopping $44m

Thanks to robust mall performances.

According to Maybank Kim Eng, they expect CMA to report a 1Q13 PATMI of ~SGD44m (+12% QoQ; 22% YoY) on 24 April. The improvement will be mainly on the back of full-quarter contribution from the malls completed last year and positive rental reversion. 

Operating metrics of malls remain healthy. CMA’s REITs account for close to half of its core PATMI and judging from their respective 1Q13 results, the retail scene in CMA’s key markets appear healthy. 

Here's more Maybank Kim Eng:

More specifically, in Singapore, CapitaMall Trust’s shopper traffic and tenants’ sales grew by 4.3% and 2.4% YoY respectively.

In China, CRCT’s shopper traffic and tenants’ sales rose by 10.8% and 11.1% respectively. We would expect to see similar operating metrics from the rest of CMA’s portfolio, which will help to underpin future rental reversion.

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