However, given the weakening RMB vs Singdollar, the reporting currency, CLCT ended FY2023 with a slightly lower revenue that's 2% lower versus FY2022, although net property income was up 2.5% to $117.5 million.
CapitaLand China Trust has suffered from price target cuts following a weaker FY2023 that saw distribution per unit down 10.1% y-o-y.
When calculated in RMB, CLCT reported higher gross revenue and net property income of 5.9% and 10.5% y-o-y respectively.
![[19/05/26] new top stories](/_next/image?url=https%3A%2F%2Fedgemarkets-transferred.s3-ap-southeast-1.amazonaws.com%2FPEO_KUNHEE_PARK_01_AC_2.jpg%3FTd3bG7fJqxPW3hMZRxhyfGgI25yRRD5v&w=640&q=75)
