In addition, Chu notes that CLCT’s retail portfolio showed sequential improvement, with occupancy climbing 0.3 percentage points q-o-q to 94.4% in the 1QFY2021. Tenants’ sales and shopper traffic also improved 47.2% and 52.1% y-o-y respectively, which Chu believes further indicates improving consumer sentiment.
OCBC Investment Research analyst Chu Peng has maintained her ‘buy’ rating for CapitaLand China Trust (CLCT) after it announced its 1QFY2021 ended March business update on April 27.
She notes CLCT’s net property income of RMB264 million ($55 million) for the quarter was driven by the performance of its business parks, with occupancy standing at a "healthy" 92.1%, accompanied by "strong rental reversions" recorded for the period.
