CLCT held up 1HFY2026 DPU at 2.45 cents despite softer economy and divestment

The Edge Singapore 08-04 23:49

On a same-store basis, excluding CapitaMall Yuhuating's contribution in 1HFY2025, DPU for 1HFY2026 increased by 2.9% y-o-y from 2.38 centsCapitaLand China Trust (CLCT) has reported a DPU of 2.45 cents...

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net property income was down 2.5% to S103.9 million, down mainly due to the divestment of CapitaMall Yuhuating. \nOn a same-store basis, gross revenue would have remained relatively stable, while NPI would have increased by 1.3%.\nCLCT's retail portfolio, which accounts for 70.6% of its total portfolio gross rental income, saw an increase in occupancy to 97.3% in 1HFY2026, up from 96.9% a year ago. \nSame-store retail revenue was up 0.8% y-o-y in 1HFY2026 on the back of completed AEI across three malls.\nOn the other hand, CLCT's business park portfolio occupancy remained resilient at 85.1%. Occupancy in its logistics park portfolio rose to 99.0% in 1HFY2026, up from 96.6% in 1HFY2025, supported by the higher occupancy at Chengdu Shuangliu Logistics Park. \nGerry Chan, CEO of the manager, says CLCT's diversified portfolio and active asset management have enabled them to maintain resilient operating performance despite macroeconomic challenges. \n\"This is demonstrated through our effective leasing and AEI strategies in our retail portfolio, leading to an improved occupancy, stronger tenant sales and higher shopper traffic. \n\"Building on our portfolio rejuvenation efforts, we will continue to seek retail acquisition opportunities in Tier 1 and 2 cities, while exploring AEIs to drive value creation. \n\"We also remain focused on curating a high-quality business and logistics park portfolio that delivers stable income while attracting tenants from growth-oriented sectors in line with China's economic priorities,\" he adds.\nGearing as at end of 1HFY2026 was 40.4%, down from 42.1% a year ago, following the repayment of loans using proceeds from the divestment of CapitaMall Yuhuating in 2025. \nCLCT units closed at 66 cents on Aug 4. It is down more than 17% year to date.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2657503541","isCrawlerRequest":true}