CapitaMalls Asia's launching costs for China malls hit $12m

And it lost ~$3m in India projects.

According to Barclays, 4Q12 reported PATMI was S$184.8mn (-10% y/y, +196% q/q), bringing FY12 PATMI to S$546.0mn (+20% y/y). Excluding revaluations of S$270mn and one-offs of S$101mn, FY12 core PATMI of S$167mn (+73% y/y) was 88% of the firm's S$189mn and 84% of the Bloomberg/IBES FY12 median forecast of S$198mn.

"We believe the shortfall was mainly due to some S$12mn in opening costs for its seven new China malls, S$3mn losses in India on project delays and higher finance costs," Barclays said.

"Final dividend of 1.625 Singapore cents, brings FY12 total dividend to 3.25 Scts, which implies a payout ratio of c46% of its cash earnings (ex-revaluations) and 1.5% dividend yield."

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia