THE following companies saw new developments that may affect trading of their securities on Monday (Oct 31):
Private healthcare provider Raffles Medical reported a 62.1 per cent year-on-year increase in net profit to S$38.3 million in Q3, from the S$23.6 million posted in the same period last year.
Its revenue also rose 6.5 per cent year on year to S$199.5 million, from S$187.3 million in Q3 2021.
This is mainly due to the return of foreign patients seeking treatment at Raffles Hospital as border restrictions eased and the increase in locals undergoing elective surgeries that had been delayed during the pandemic, said Raffles Medical in a business update on Monday (Oct 31).
CapitaLand China Trust has reported a net property income (NPI) of RMB970.8 million ($188.5 million) for the 9MFY2022 ended Sept 30, 7.5% higher y-o-y.
The higher NPI comes on the back of the 7.0% y-o-y growth in 9MFY2022 gross revenue of RMB1.43 billion.
According to the REIT manager, the uplift in its portfolio was attributable to the addition of new economy assets.
CapitaLand India Trust’s total property income for the third quarter ended Sep 30 rose 13 per cent to 3 billion rupees (S$53.5 million) from 2.7 billlion rupees last year.
This comes on the back of higher income contribution from its portfolio, including Building Q1, Arshiya Warehouse 7 and industrial facility at Mahindra World City, Chennai.
Net property income grew 8 per cent to 2.4 billion rupees in Q3 2022, from 2.2 billion rupees. Gains from higher property income contributions were, however, partially offset by higher property expenses, said the trust’s manager.
The manager of Mapletree Pan Asia Commercial Trust (MPACT) on Friday (Oct 28) said it does not expect a miraculous recovery for its Festival Walk retail mall in Hong Kong amid China’s strict zero-Covid policy.
One of MPACT’s three “core assets” alongside VivoCity and Mapletree Business City (MBC) in Singapore, Festival Walk was a key blemish on what was otherwise a solid set of results for the real estate investment trust (Reit).
In its first results announcement post-merger, the Reit posted a 12.5 per cent increase in distribution per unit (DPU) to S$0.0494 for the first half ended September, with gross revenue and net property income (NPI) both rising 44.9 per cent.
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