CapitaLand Retail China Trust's Rock Square. (Photo: CapitaLand Retail China Trust)CapitaLand Retail China Trust's Rock Square. (Photo: CapitaLand Retail China Trust)

Data from CapitaLand China Trust’s latest results have been updated into the Singapore REITs table.

CapitaLand China Trust’s (CLCT’s) distribution per unit (DPU) for its 1H 2021 rose by 40.1% to 4.23 cents, compared with 3.02 cents for 1H 2020.

Correspondingly, the REIT’s net property income (NPI) of SGD120.3 million for 1H 2021 is an increase of 84.4% from the corresponding period last year.

This was mainly due to new contribution from its business park portfolio, 100% contribution from Rock Square2, and new contribution from CapitaMall Nuohemule.

However, this was partially offset by the absence of contribution from CapitaMall Minzhongleyuan and CapitaMall Saihan following their divestments.

The REIT’s NPI was further boosted by lower tenant reliefs and higher rent collections, as well as higher occupancy and rental reversions at its business park properties.

Meanwhile, 1H 2021 distributable income was SGD64.1 million, 72.9% higher than 1H 2020.

The REIT’s record date is 6 August 2021, and unitholders can expect to receive their 1H 2021 DPU on 27 September 2021.

CLCT was last done on the Singapore Exchange (SGX) at SGD1.38, which currently implies a distribution yield of 6.13% according to data compiled on the Singapore REITs table.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.