Company briefs: CapitaLand Retail China Trust

CapitaLand Retail China Trust

CapitaLand Retail China Trust has reported a 7.9 per cent rise in distributable income to $22.9 million in the second quarter.

This was achieved on the back of a 5.3 per cent increase in net property income to $36 million for the three months to June 30.

The portfolio of 10 shopping malls in six Chinese cities recorded rental reversions of 4.6 per cent and a 95 per cent occupancy rate. Tenants' sales were up 17.8 per cent from a year ago, while shopper traffic grew 2 per cent.

Distribution per unit was 2.73 cents. This was 5.4 per cent higher than the 2.59 cents for the corresponding period last year. First-half distributable income was up 10.3 per cent at $45.1 million. For the six months to June 30, distribution per unit was 5.37 cents, up 7.6 per cent from a year ago.


Frasers Hospitality Trust

Frasers Hospitality Trust posted a distributable income of $18.8 million in the third quarter, 0.1 per cent higher than its forecast.

Net property income for the three months to June 30 was $19.2 million, 1.2 per cent below forecast.

Distribution per unit was 1.56 cents, 0.6 per cent above the forecast.

The trust manager said its properties in Japan, Australia and the United Kingdom outperformed forecasts due to strong occupancies despite unfavourable foreign exchange movements.

These strong performances helped to balance the portfolio in weaker markets in Malaysia and Singapore, the manager said.


Starhill Global Reit

Starhill Global Real Estate Investment Trust reported a 4.5 per cent rise to $28.1 million in income to be distributed to unit-holders in the sixth quarter.

This came on the back of a 5.5 per cent rise in net property income to $41.3 million for the three months to June 30, mainly driven by the maiden contribution from the newly acquired Myer Centre Adelaide from May and strong Singapore portfolio performance.

This was partially offset by lower contributions from China and net foreign currency movements.

Distribution per unit came up to 1.29 cents.

This was 3.2 per cent higher than the 1.25 cents achieved for the corresponding period last year.

A version of this article appeared in the print edition of The Straits Times on July 30, 2015, with the headline 'Company briefs: CapitaLand Retail China Trust'. Print Edition | Subscribe