Gross revenue declined by 7.9% y-o-y to $159.2 million. The decrease in gross revenue was attributed to lower contributions from the retail portfolio, largely due to ongoing supermarket upgrades at three retail malls, and lower occupancy at the business parks portfolio. This was partially offset by stronger performance from the logistics parks portfolio, which recorded a 2.0% y-o-y increase.
CapitaLand China Trust's (CLCT) 1HFY2025 distribution per unit (DPU) fell by 17.3% y-o-y to 2.49 cents after retention. CLCT's manager retained $1.75 million.
The lower DPU resulted from a decline in gross revenue, net property income and the weakening of the renminbi (RMB) against the Singapore dollar (SGD), which was partially offset by savings in finance costs.
