CapitaLand Retail China Trust (AU8U)

As at 2020 First Half Financial Results (29 July 2020)

CapitaLand Retail China Trust (CRCT) is the is the first and largest China shopping mall REIT in Singapore, listed on 8 Dec 2006. It has ownership/interest in 13 properties in eight of China’s cities, worth RMB19,386 million (~S$3.8 billion) as at 30 Jun 2020.

Gross rental income
(by sector)
Percentage
Fashion & Accessories28%
Food & Beverage28%
Supermarket8%
Beauty & Healthcare7%
Leisure & Entertainment4%
Education4%
Sundry & Services4%
Others3%
Sporting Goods & Apparel3%
Shoes & Bags3%
Jewellery /
Watches /
Pens
3%
Houseware & Furnishings3%
Department Stores2%
Information & Technology1%
Gross rental income
(by geographical location)
Percentage
China100%

Metrics2Q 20201Q 2020
Gearing Ratio
(Aggregate Leverage)
33.6%35.8%
Weighted Average Debt to Maturity
(Average Term to Maturity)
2.75 years2.55 years
Average Cost of Debt (p.a.)2.79%2.89%
Occupancy Rate93.4%95.4%
Weighted Average Lease Expiry
(by GRI)
2.2 years2.3 years
Top 10 tenants
(gross rental income)
17.6%
Top tenant
(gross rental income)
4.1%

1H 20201H 2019
MetricsS$ ‘000S$ ‘000
Gross RevenueRMB 510,986RMB 554,500
Property operating
expenses
Not
specified
Not
specified
Net Property Income65,27880,167
Distributable Income37,04850,231
DPU3.02c5.13c

PORTFOLIO

CHINA

CapitaMallCityNPI (%)Occupancy
2Q 2020
Occupancy
1Q 2020
XizhimenBeijing2892.698.4
WangjingBeijing2293.497.9
Grand CanyonBeijing1090.197.0
ShuangjingBeijing698.599.7
XuefuHarbin797.399.3
AidemengdunHarbin190.096.7
Rock Square
(51%)
Guangzhou93.898.0
XinnanChengdu1293.198.2
YuhuatingChangsha696.598.2
QibaoShanghai682.387.1
MinzhongleyuanWuhan049.152.8
SaihanHohhot399.099.8
Yuquan MallHohhot

 Rock Square is a joint venture whereby CRCT has 51.0% interest in

Yuquan Mall is undergoing fitting-out and will not be opened till 2H 2020.

CapitaMallCityValuation
(RMB m) Jun-20
Valuation
(RMB m) Dec-19
Leasehold
expiry
XizhimenBeijing3,5803,58023 Aug 2044
WangjingBeijing2,7722,77215 May 2043
Grand CanyonBeijing2,1252,12529 Aug 2044
ShuangjingBeijing61061010 Jul 2042
XuefuHarbin1,7921,79215 Dec 2045
AidemengdunHarbin4804807 Sep 2042
Rock SquareGuangzhou3,4253,42517 Oct 2045
XinnanChengdu1,6001,60017 Oct 2045
YuhuatingChangsha7607603 Mar 2044
QibaoShanghai43543510 Mar 2043
MinzhongleyuanWuhan49049030 Jun 2044
SaihanHohhot46046011 Mar 2041
Yuquan MallHohhot85785726 Jul 2049

7 thoughts on “CapitaLand Retail China Trust (AU8U)

  1. Hi, I see you recently posted a few REIT info based on latest result. I have share a few of your post in the Facebook group-REIT Investing Community.
    Hope you could join the group and share your REIT post there in the future. Btw, I am Vince from REIT-TIREMENT blog.

    Like

  2. Hi, I see you recently posted a few REIT info based on latest result. I have share a few of your post in the Facebook group-REIT Investing Community.
    Hope you could join the group and share your REIT post there in the future. Btw, I am Vince from REIT-TIREMENT blog.

    Like

      1. Glad that my dashboard is helpful to you, feel free to use it for your analysis or blog post. I see that you have shared in the Facebook group. Do invite your friends and like-minded to the group, let’s grow this REIT community together. Thanks

        Like

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