CapitaLand China Trust experienced a 7.7% decline in Q1 NPI due to lower logistics park contributions and absence of one-off property tax refund.
CapitaLand China Trust (CLCT) reported a 7.7% drop in net property income (NPI) to 313.1 million yuan in Q1 from 339.1 million yuan in the same period last year. The decline was attributed to lower contributions from logistics parks and the absence of a one-off property tax refund from CLCT's business parks. In Singapore-dollar terms, NPI fell 11.8% YoY due to renminbi depreciation against the SGD.
April 24, 2024
3 Articles