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Priced in. UP liao lor.
Any reason for the sudden spike today, is it going back to 88.5 cents soon ?
CapitaLand China Trust H1 DPU falls 17.3% to S$0.0249
Net property income down 9.7% at S$106.5 million
[SINGAPORE] CapitaLand China Trust&rsquo s (CLCT) distribution per unit (DPU) for the six months ended Jun 30 fell 17.3 per cent to S$0.0249, from S$0.0301 in the year-ago period.
This was due to lower net property income (NPI) and a weaker renminbi against the Singapore dollar, which was partially offset by savings in finance costs.
Including contributions from CapitaMall Yuhuating, which were retained in view of its divestment to CapitaLand Commercial China Real Estate Investment Trust (CLCR) as a seed asset, DPU would have been S$0.0259, said the manager on Wednesday (Jul 30).
In actual Singapore dollar terms, NPI fell 9.7 per cent to S$106.5 million from S$117.9 million previously on lower revenue, which was partially offset by cost savings of 2.5 per cent year on year.
Revenue for H1 declined 7.9 per cent to S$159.2 million from S$173 million in actual Singapore dollar terms due to a drop in retail revenue and business park revenue.
CLCT&rsquo s retail portfolio was largely affected by ongoing supermarket upgrades at three malls, while its business park portfolio recorded lower occupancy on the year. Retail revenue was down 3.3 per cent year on year. Occupancy for the retail portfolio stood at 96.9 per cent, down slightly from 97.8 per cent in the year-ago period.
In H1, sales improved in the key trade sectors of toys and hobbies, jewellery and watches, information and technology, as well as food and beverage. Toys and hobbies recorded the largest increase at 46 per cent, due to the rising popularity of the collectibles toy market.
Chinese consumer behaviour has changed, with more favouring experiential retail experiences, noted Gerry Chan, chief executive officer of CLCT&rsquo s manager.
He added: &ldquo Certainly, they are no longer chasing luxury goods, but (purchases) like PopMart (collectibles) give them some excitement in their lives.&rdquo
CLCT&rsquo s business park revenue fell 10.1 per cent due largely to lower occupancy at Singapore-Hangzhou Science & Technology Park Phase II and Ascendas Innovation Towers.
In an earnings call on Wednesday, Chan said that although challenges remain in the business park sector, occupancy bounced back from a first-quarter low of 83.7 per cent to 86.9 per cent with more competitive pricing on rents.
The manager has backfilled serviced office tenant space in Singapore-Hangzhou Science & Technology Park Phase II, with take-up rising from 45 per cent as at end-March to 72 per cent as at the end of June.
CLCT&rsquo s logistics park portfolio recorded a 2 per cent year-on-year increase in revenue contributions, while occupancy rose to 96.6 per cent.
In actual Singapore dollar terms, the amount available for distribution to unitholders was down 11.9 per cent at S$45.2 million, from S$51.3 million in the year-ago period.
CLCT&rsquo s gearing remained stable at 42.1 per cent versus 42.6 per cent in the previous quarter, while the interest coverage ratio remained at 2.9 times.
Giving an update on operational performance, CLCT&rsquo s manager said it has started asset enhancement initiatives for three of its malls, converting low-yielding anchor spaces into higher-yielding areas with improved trade mix and circulation to unlock higher rental value.
While market pressures are expected to weaken rental prices and occupancy at CLCT&rsquo s business parks, government policies targeting the technology sector could be supportive. Meanwhile, there are ongoing efforts to explore portfolio reconstitution opportunities for its logistics sector.
Chan said the manager is observing the kinds of assets other property groups are injecting into their logistics China real estate investment trusts, which will serve as good data points for the prices and locations buyers are interested in.
He said: &ldquo By focusing our business parks and logistics parks on sectors aligned with the government&rsquo s priorities, we are well-positioned to capture policy-driven opportunities as China pursues high-quality growth.&rdquo
CLCT, together with CapitaLand Investment and CapitaLand Development, who are joint strategic investors in CLCR, aim for CLCR to be listed on the Shanghai Stock Exchange in the third or fourth quarter of 2025.
In his closing remarks, Chan said that trade tensions seemed to have eased, although the final deal between the US and China is expected to take some time.
Chinese regulators have announced a range of fiscal and monetary stimuli aimed at boosting domestic consumption and economic growth, and these measures have been implemented across multiple sectors, including the property and equity markets.
Chan added: &ldquo The stock market in China is quite buoyant, and it&rsquo s supported by domestic equity and support from the Chinese government. We hope and expect (the) wealth effect to filter through eventually.&rdquo
The payment date for CLCT&rsquo s H1 DPU is Sep 24, after the record date for income distribution on Aug 7.
Yes, yes, BinderyT.
Just old man trying to let off steam. LOL.
Just old man trying to let off steam. LOL.
Yo pkil899, we discussed this a while ago.
You need to wait for China real estate to recover. Right now, China commercial property valuations are very low so due to mark-to-market reporting, this REIT' s NAV is suffering.
But also, I think SG investors over-rate the yield. Fact is, China has a high yield policy due to state directives. That' s why most of their blue chips pay 8-10%.
You need to wait for China real estate to recover. Right now, China commercial property valuations are very low so due to mark-to-market reporting, this REIT' s NAV is suffering.
But also, I think SG investors over-rate the yield. Fact is, China has a high yield policy due to state directives. That' s why most of their blue chips pay 8-10%.
pkli899 ( Date: 30-Jul-2025 15:44) Posted:
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Just look back at the DPU history (calendar year):
2014 = 9.82 cents
2015 = 10.6 cents
2016 = 10.05 cents
2017 = 10.1 cents
2018 = 10.22 cents
2019 = 8.74 cents
2020 = 6.35 cents
2021 = 8.73 cents
2022 = 7.5 cents
2023 = 6.74 cents
2024 = 5.65 cents
2025 = 2.49 cents (half year)
I bought in 2013, so that year and earlier period DPU I did not include.
For the ten years I holding the counter, it went thru 3 or 4 rounds of various form of fund raising.I participated but overall, my holding still got diluted.
Despite the management painting positive picture of accretive acquisitions at every fund raising, DPU did not increase.
This is because net distributable income did not increase correspondingly with the increase in issued shares!
Meanwhile, the manager got big fat payment for each new property they purchased, shareholders benefited or not, not withstanding!
Just in case some think I bad mouth the company because I do not hold or already sold the shares, I hold slightly above 210k units.
Reluctantly increased thru several rights&rsquo issue/fund raising over just 10 years period.
Having said, no denying the DPU is still better than any bank&rsquo s interest.
That is why still keeping for passive income lor.
2014 = 9.82 cents
2015 = 10.6 cents
2016 = 10.05 cents
2017 = 10.1 cents
2018 = 10.22 cents
2019 = 8.74 cents
2020 = 6.35 cents
2021 = 8.73 cents
2022 = 7.5 cents
2023 = 6.74 cents
2024 = 5.65 cents
2025 = 2.49 cents (half year)
I bought in 2013, so that year and earlier period DPU I did not include.
For the ten years I holding the counter, it went thru 3 or 4 rounds of various form of fund raising.I participated but overall, my holding still got diluted.
Despite the management painting positive picture of accretive acquisitions at every fund raising, DPU did not increase.
This is because net distributable income did not increase correspondingly with the increase in issued shares!
Meanwhile, the manager got big fat payment for each new property they purchased, shareholders benefited or not, not withstanding!
Just in case some think I bad mouth the company because I do not hold or already sold the shares, I hold slightly above 210k units.
Reluctantly increased thru several rights&rsquo issue/fund raising over just 10 years period.
Having said, no denying the DPU is still better than any bank&rsquo s interest.
That is why still keeping for passive income lor.
Property price in China is still sinking, today' s price is still very high comparing to the affordability of Chinese commoners.
A lot of houses sold in China remains unoccupiedand owned by people with multiple houses.
I don' t think CLCT will recover so soon, still need at least a few years to recover. But I have great trust in China that it will turn stronger after all these properties set back. I also owned quite a sizable share in CLCT and will keep it there for dividends, the dividends payout is still better than putting money in Singapore FD.
A lot of houses sold in China remains unoccupiedand owned by people with multiple houses.
I don' t think CLCT will recover so soon, still need at least a few years to recover. But I have great trust in China that it will turn stronger after all these properties set back. I also owned quite a sizable share in CLCT and will keep it there for dividends, the dividends payout is still better than putting money in Singapore FD.
they are still able to enjoy the well-paid management fee 
pkli899 ( Date: 30-Jul-2025 10:00) Posted:
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From bad to worst.
Management not accounted for it?
Weak RMB, lousy business parks, what else?
Management not accounted for it?
Weak RMB, lousy business parks, what else?
Jialat my worst performing reit (yet), not selling but also not adding.
Compared to 2 years ago, my dividends decrease by at least $600 per year.
Compared to 2 years ago, my dividends decrease by at least $600 per year.
Lots of attractive things to invest into in China but not sure property (of any type) is one of them
What news drive it up recently?
finjungle ( Date: 18-Jul-2025 14:22) Posted:
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Cusumers spending is weak in China. More unoccupied malls?
Mark001 ( Date: 18-Jul-2025 12:33) Posted:
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Is this today news?
pasttime ( Date: 18-Jul-2025 12:36) Posted:
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The sponsor trying to lift it by doing a china REITs. If demand good. Think they shift more shopping center over. Get units of china REITs. Then slowly convert to cash and pay down debt. Then alive again. It will take time
What winds drive CLCT up today?
Is it true CLCT is divesting another mall at Changsha?
This reit is it gone case? Can any brothers and sisters share their opinions?
This reit is it gone case? Can any brothers and sisters share their opinions?
Agree with your last sentence.
Not too positive about it, to me.
Not too positive about it, to me.
pasttime ( Date: 13-Jun-2025 20:29) Posted:
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Yes, no lost for me.
Bought years ago.......just making some noise.
Bought years ago.......just making some noise.
BinderyT ( Date: 13-Jun-2025 17:55) Posted:
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