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.
