CapitaLand Mall's net property income fell 2.9% to $478.2m in 2017

How did Funan Mall closure affect its figures?

CapitaLand Mall Trust Management Limited reported that its NPI fell by 2.9% YoY, from $479.6m to $478.2m in 2017.

Further, its gross revenue decreased by 1.1% YoY, falling from $689.7m to $682.4m in 2017. This was due to Funan Mall, which stopped its operations for redevelopment from July 2016, and Bedok Mall, which had lower occupancy and rental rates achieved. However, said losses were partially offset by higher rental in IMM, Jcube and Clarke Quay.

CMT’s property operating expenses fell by 2.8% YoY, from $210m to $$204.2m, mainly caused by higher property tax, which was able to offset lower utilities expenses.

Management fees at $45.1m were $0.4m or 1.0% higher than FY 2016.

Finance costs for FY 2017 of $104.1m were $2.2m or 2.1% lower than FY 2016. This was mainly due to refinancing of MTNs of $100m and $150m in March 2017 and September 2017 respectively at lower interest rates and utilisation of the proceeds from the divestment of VSRT to repay the bank borrowings in November 2017.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. 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