By BERNICE BONG
SINGAPORE - CapitaRetail China Trust (CRCT) posted on Friday a distributable income of S$12.9 million for the second quarter, ended June 30, up 7.3 per cent from a year back.
Net property income (NPI) edged up 1.9 per cent to $19.8 million. In renminbi, the NPI rose 8.8 per cent to RMB97.2 million.
CRT's distributable income for the first half of this year was $28.2 million, up 3.6 per cent from a year earlier. Gross revenue dipped 2.9 per cent to $59.1 million.
Distribution per unit (DPU) rose 6.7 per cent to 2.07 cents in Q2.
The Trust will make a DPU payout of 4.21 cents for H1. The book closure date is Sept 9 and unitholders can expect to receive their distribution on Sept 24.
CRCT is managed by CapitaRetail China Trust Management Limited (CRCTML), which is an indirect wholly owned subsidiary of CapitaMalls Asia.
Mr Victor Liew, Chairman of CRCTML, said, 'We continue to benefit from the Chinese government’s stimulus measures to boost domestic consumption and maintain stable and sustainable economic growth. Resilient domestic consumption continues to be agrowth engine for China's economy, which the International Monetary Fund projects will grow by 10.5 per cent in 2010.'
Mr Tony Tan, Chief Executive Officer of CRCTML, said, 'We have achieved a respectable set of results, backed by a strong year-on-year growth in tenant sales and shopper traffic of 28.8 per cent and 14.4 per cent respectively.'
