CapitaLand Mall Trust Posts Resilient Second-Quarter Result
Narrow moat-rated CapitaLand Mall Trust's second-quarter result was soft and in line with expectation. The headline gross rental and net property income was lower due to the closure of Funan mall July last year. Excluding the impact of Funan, revenue was up 60 basis points against the same period last year and tighter cost control saw slightly higher increase in net property income at 1.2%. The trust's property portfolio continued to be pressured by the weak retail environment as rental reversio...CapitaLand Mall Trust is a real estate investment trust. Co. owns and invests in assets, which are used, or predominantly used, for retail purposes primarily in Singapore. Co.'s portfolio is comprised of 16 shopping centers, which include Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, Hougang Plaza, Lot One Shoppers' Mall, Bukit Panjang Plaza, Rivervale Mall, The Atrium@Orchard, Clarke Quay, Iluma, and Raffles City Singapore. All of Co.'s shopping centers are located in Singapore.
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