CapitaLand China Trust - OCBC Investment 2024-10-30: A Balancing Act Between Occupancy & Rental Reversions

• We continue to view CapitaLand China Trust (SGX:AU8U) as a beneficiary of China’s pro-growth policies in the longer term and see recent stimulus measures by the Chinese government as potential green shoots, but expect the recovery to pan out over a multi-year story.

9M24 gross revenue and NPI declined 3.4% and 5.1% y-o-y respectively.

• - Read this at SGinvestors.io -
• The retail portfolio has remained resilient, with occupancy coming in flattish at 97.9% as at 30 Sep 2024, and 9M24 shopper traffic and tenant sales up 10.1% and 2.4%. Management shared that while its malls experienced a 7.7% y-o-y rise in shopper traffic during the Golden Week holiday, tenant sales remained flat amidst cautious sentiment.
• - Read this at SGinvestors.io -
• On a same-store basis, 9M24 gross revenue and NPI for CapitaLand China Trust’s retail portfolio grew 1.6% and 2.9% y-o-y.

A trade-off between reversions and occupancy

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-09-29 CapitaLand China Trust - Protracted DPU Recovery Expected.

Previous report by OCBC:
2025-07-30 CapitaLand China Trust - No Light At The End Of The Tunnel Yet.

Price targets by other brokers at CapitaLand China Trust Target Prices.

Listing of research reports at CapitaLand China Trust Analyst Reports.

Relevant links:
CapitaLand China Trust Share Price History,
CapitaLand China Trust Announcements,
CapitaLand China Trust Dividend Payout Dates & Corporate Actions,
CapitaLand China Trust News