CapitaLand Mall Trust Q2 property income edges higher, shares gain

Net property income up 1.2 percent to S$117.5 million.

• By Aastha Agnihotri
  July 21, 2017 13:21 +08

• REIT CapitaLand Mall Trust Management shares rose as much as 2.5 percent on Friday to S$2.05

• Net property income up 1.2 percent to S$117.5 million for the three months ended June 30

• Distributable income inched up 0.1 percent to S$97.2 million for Q2

• Revenue fell 1.3 percent to S$168.6 million due to Funan Mall, which ceased operations for redevelopment from July 1, 2016

• "Portfolio occupancy as at 30 June 2017 was a high 98.6 percent, outperforming the average market occupancy level ," Chief Executive Officer Tony Tan said in a statement