- 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 the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-10-30
Previous report by OCBC:
2024-10-01 CapitaLand China Trust - Benefitting From A Rebound In China’s Risk Sentiment.
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 Dividends & Corporate Actions,
CapitaLand China Trust News Articles
