CapitaLand Mall Trust Q2 property income edges higher, shares gain
Net property income up 1.2 percent to S$117.5 million.
- 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