” CapitaMall Trust,Singapore’s largest property trust by market value,said on Jan 25 that a third of its portfolio would be in overseas property assets by 2012 as it expands outside Singapore”
Highlighted by its CEO,Puan Seck Guan( The Edge25/1/07):-
- Singapore shopping malls account for more than 95% of its property portfolio. CapitaMall.
- has a 20% stake in its sister REIT,CapitaRetail China Trust,which is based on shopping malls in China
- Singapore will remain a significant part of our overall portfolio
- trust would look at other overseas markets that offered the same scope for growth as China.
- CapitaMall’s parent is CapitaLand which has a joint venture with Indian retail giant Pantaloon Retail to operate 50 malls across India.
- At Jan 25,the REIT reported a 46% increase in quarterly distributable income on higher returns from its shopping malls.
- It will pay investors S$52.3 million (RM119 million) in distributable income for the October to December quarter,or S$3.35 per unit. This compares to a distributable income of S$35.8 million in the same period a year before.
- Units of CapitaMall have risen about 23% in the last three months,above the average 19% gain chalked up by a group of Singapore REITs compiled by JP Morgan.
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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