CapitaMall Sees A Third Of Assets Abroad In 5 Years

” 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.

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