CapitaLand Mall Trust Q2 property income edges higher, shares gain

Net property income up 1.2 percent to S$117.5 million.

capita
CapitaLand Mall Trust.
  • REIT CapitaLand Mall Trust Management shares rose as much as 2.5 percent on Friday to S$2.05
  • Net property income up 1.2 percent to S$117.5 million for the three months ended June 30
  • Distributable income inched up 0.1 percent to S$97.2 million for Q2
  • Revenue fell 1.3 percent to S$168.6 million due to Funan Mall, which ceased operations for redevelopment from July 1, 2016
  • "Portfolio occupancy as at 30 June 2017 was a high 98.6 percent, outperforming the average market occupancy level ," Chief Executive Officer Tony Tan said in a statement

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