CapitaLand Retail China Trust Management on Monday reported a 0.4 percent rise in third-quarter distribution per unit (DPU).
DPU rose to 2.37 Singapore cents in the quarter compared to 2.36 Singapore cents in the previous year.
Net property income was up 9.7 percent to S$36 million, while income available for distribution increased 4.2 percent to S$21.4 million, the company said in a regulatory filing.
Gross revenue went up by 10.6 percent to S$56 million, mainly due to mainly due to the contribution from CapitaMall Xinnan, which was acquired on 30 September 2016, and rental growth from the other multi-tenanted malls.
"Plans to transform the space to house experiential retail offerings that will inject greater vibrancy to the mall are progressing well, and the new retail space is targeted to open in phases from the second quarter of 2018," said Tan Tze Wooi, CEO of CRCTML.
As at 30 September 2017, the total asset size of CRCT was about S$2.8 billion.
Shares in CapitaLand Retail China Trust Management ended up 0.6 percent to S$1.68 on the Singapore Exchange. The stock has risen 23 percent so far this year.