CRCT evaluating tenant mix; posts H1 DPU of 3.02 Singapore cents

Published Wed, Jul 29, 2020 · 09:50 PM

Singapore

CAPITALAND Retail China Trust (CRCT) is assessing its tenant mix amid the Covid-19 pandemic and may "take the hard decision" to phase out tenants if their business formats are not viable, said Tan Tze Wooi, chief executive of the real estate investment trust (Reit)'s manager.

In a virtual results briefing on Wednesday, Mr Tan talked about a "continuous effort" to replace irrelevant trades with those that resonate with the lifestyle needs and spending preferences of consumers today.

CRCT has posted a distribution per unit (DPU) of 3.02 Singapore cents for the six months ended June 30, down 41.4 per cent from the year-ago DPU of 5.13 cents. For the first half of last year, after making a divestment, CRCT had also returned investors S$1 million via a capital distribution. Excluding this distribution, the year-ago DPU was 5.03 …