Ascendas Xinsu is part of the CLCT’s newly acquired business park and logistics properties. (Photo from CLCT)

CLCT’s net income jumps 15.9% YoY to $139.5m in H122

The increase was due to strong contributions from CLCT’s business parks and logistics assets.

CapitaLand China Trust (CLCT) posted a $139.5m net property income in H122, which translates to a 15.9% jump from the same period last year.
According to CLCT’s manager, CapitaLand China Trust Management Limited (CLCTML), the increase was mainly due to “the enlarged portfolio and strong contributions from CLCT’s business parks and logistics assets.”
The increase, however, was partially offset by higher rental relief for retail tenants.
With an increase in net income, CLCT’s total distribution to unitholders likewise rose by 12.9% YoY to $72.0m. 
Of the $72.0m, CLCT’s manager said the Trust will retain $3.6m “for financial flexibility” given the recent lockdown in Shanghai and mandatory closures of shopping malls in the area amidst the resurgence of COVID-19.
With some amount retained from the total distribution, the 1HFY22 distribution per unit (DPU) was set at $0.0410, 3.1% YoY lower than 1HFY21. 
 Excluding the amount retained, 1H 2022 DPU would have been 4.32 cents, 2.1% YoY higher. 

 Unitholders will receive the DPU of $0.0410 on 22 September 2022.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!