【CapitaRChina AU8U 交流专区】凯德商用中国信托 CAPITARETAIL CHINA TRUST

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CapitaRetail China Trust (CRCT) is the first and only People's Republic of China (China) shopping mall real estate investment trust (REIT) in Singapore, with a portfolio of nine income-producing shopping malls. Listed on Singapore Exchange Securities Trading Limited (SGX-ST) on 8 December 2006, it is established with the objective of investing on a long-term basis in a diversified portfolio of income-producing real estate used primarily for retail purposes and located primarily in China, Hong Kong and Macau.

The geographically diversified portfolio of quality shopping malls are located in six of China's cities. The malls are CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Shuangjing and CapitaMall Anzhen in Beijing; CapitaMall Qibao in Shanghai; CapitaMall Erqi in Zhengzhou, Henan Province; CapitaMall Saihan in Huhhot, Inner Mongolia; CapitaMall Wuhu in Wuhu, Anhui Province; and CapitaMall Minzhongleyuan in Wuhan, Hubei Province.

All the malls in the portfolio are positioned as one-stop family-oriented shopping, dining and entertainment destinations for the sizeable population catchment areas in which they are located, and are accessible via major transportation routes or access points. A significant portion of the properties' tenancies consists of major international and domestic retailers such as Wal-Mart, Carrefour and the Beijing Hualian Group (BHG) under master leases or long- term leases, which provide CRCT unitholders (Unitholders) with stable and sustainable returns. The anchor tenants are complemented by popular specialty brands such as UNIQLO, ZARA, Vero Moda, Sephora, Watsons, KFC, Pizza Hut and BreadTalk.

CRCT is managed by an external manager, CapitaRetail China Trust Management Limited (CRCTML or the Manager), which is an indirect wholly-owned subsidiary of CapitaMalls Asia Limited, one of Asia's largest listed shopping mall developers, owners and managers.

公司官网：http://www.capitaretailchina.com/main.html

Name of Announcer *	CAPITARETAIL CHINA TRUST
Company Registration No.	N.A.
Announcement submitted on behalf of	CAPITARETAIL CHINA TRUST
Announcement is submitted with respect to *	CAPITARETAIL CHINA TRUST
Announcement is submitted by *	Choo Wei-Pin
Designation *	Company Secretary, CapitaRetail China Trust Management Limited (as manager of CapitaRetail China Trust)
Date & Time of Broadcast	14-Aug-2013 07:09:27
Announcement No.	00017

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

Announcement Title *

CRCT Presentation Slides - CapitaLand Debt Investors' Day

Description

The attached presentation slides issued by CapitaRetail China Trust Management Limited on the above matter is for information.

Attachments

CRCTSlides_CLDebtInvestorDay_Final_20130814.pdf

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Name of Announcer *	CAPITARETAIL CHINA TRUST
Company Registration No.	N.A.
Announcement submitted on behalf of	CAPITARETAIL CHINA TRUST
Announcement is submitted with respect to *	CAPITARETAIL CHINA TRUST
Announcement is submitted by *	Goh Mei Lan
Designation *	Company Secretary, CapitaRetail China Trust Management Limited (as manager of CapitaRetail China Trust)
Date & Time of Broadcast	21-Aug-2013 19:43:49
Announcement No.	00117

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The details of the announcement start here ...

Announcement Title *

CRCT Presentation Slides - Hong Kong Non-Deal Roadshow - 22 to 23 August 2013

Description

The attached presentation slides issued by CapitaRetail China Trust Management Limited on the above matter is for information.

Attachments

Slides_HKNDR_20130821_Final.pdf

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凯德商用中国信托集资5,900万元来扩大组合
2013年10月24日
http://www.sharesinv.com/zh/articles/42239/

凯德商用中国信托(CapitaRetail China Trust)向其目前的股东发行了每股1.30元的约4,540万股新股，以求筹集约5,900万元的毛收益。这些新股为不可撤销优先股，发股价比其在10月23日的1.4049元成交量加权平均股价低了约7.5%。每持有100股公司股便将获配六股新股。值得留意的是，凯德商用产业(CapitaMalls Asia)已承诺将认购其按股权比例而获配的新股，同时也将申请认购凯德商用新加坡信托(CapitaMall Trust)放弃认购的新股。凯德商用中国信托在昨天宣布，其3Q13的可分配收入增加了2.1%至1,710万元，由于租户的销售表现提高及租金上调令收入增幅扩大。

启示：所获净收益将用来投资于具备长期潜力的商场，包括作为北京首地大峡谷购物中心(Grand Canyon Mall)的部份收购资金。该购物中心的收购价约为18亿人民币(3亿7,180万元)，公司可通过收购它来进一步从中国与日提高的消费中受惠。


CapitaRetail China Trust's 3Q distributable income up 2.1%
Publish date: Wed, 23 Oct 10:54
http://www.theedgesingapore.com/the-daily-edge/business/45950-capitaretail-china-trusts-3q-distributable-income-up-21.html

CapitaRetail China Trust Management Limited (CRCTML), the manager of CapitaRetail China Trust (CRCT), announced today an increase of 2.1% in distributable income to $17.1 million for the period from 1 July 2013 to 30 September 2013 (3Q 2013), compared to $16.7 million over the same period last year (3Q 2012).

The increase was led by higher revenue growth contributed by better tenants’ sales and higher rental reversions at CapitaMall Xizhimen, CapitaMall Wangjing and CapitaMall Saihan, that offset the absence of contributions from CapitaMall Minzhongleyuan which is currently undergoing asset enhancement works.

Distribution per unit (DPU) for 3Q 2013 was 2.26 cents. Based on an annualised DPU of 8.97 cents and CRCT’s closing price of $1.395 per unit on 22 October 2013, the annualised distribution yield is 6.4%.

Tony Tan, CEO of CRCTML, said, “We are pleased that the multi-tenanted shopping malls in our portfolio have maintained resilient growth for the quarter under review. Excluding CapitaMall Minzhongleyuan which is closed for asset enhancement, tenants’ sales at our multi-tenanted malls grew by a healthy 10.1%. This is a reflection of the value that we can create through proactive asset management. We are confident that the asset enhancement works underway since July 2013 at CapitaMall Minzhongleyuan will set the foundation for strong future growth. We have already secured leasing commitments and are also in advanced negotiations with other retailers, which together account for nearly 60.0% of the total net lettable area.”

“As for our proposed acquisition of Grand Canyon Mall, we have submitted the application to the Chinese government and we expect to receive official approval before year-end. The target NPI yield3 of the mall in the longer term is 7.0% to 8.0%. Following the expected completion of the acquisition by the first quarter of next year, we can further maximise the potential of this mall and enhance returns to our unitholders.”

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CRCT to acquire Grand Canyon Mall in Beijing for $368mil
Source: The Edge   |   Publish date: Wed, 6 Nov 09:55  
http://www.theedgesingapore.com/the-daily-edge/business/46165-crct-to-acquire-grand-canyon-mall-in-beijing-for-368mil.html

The manager of CapitaRetail China Trust said it has signed an agreement with CapitaMalls Asia to acquire Grand Canyon Mall in Beijing.

Grand Canyon Mall is an operating mall located along the South Third Ring West Road in Beijing’s up-and-coming south region.

Open since August 2010, Grand Canyon Mall enjoys an average monthly footfall of more than 1 million. Within a 5-kilometre radius, the mall serves a catchment of more than 650,000 people. Popular international and local brands at Grand Canyon Mall include Carrefour, Poly Cinema, H&M, Gap, Sephora and Watsons.

Including acquisition-related expenses, the total investment cost for the mall is expected to be about RMB1.82 billion ($367.5 million), or about RMB26,000 ($5,249) per square metre based on total gross floor area, excluding car park.

The mall has been valued at  RMB1.83 billion ($369.4 million) as at 15 April 2013 by CBRE, an independent property valuer.

Tony Tan, CEO of CRCTML, said, “As our tenth mall in China and fifth in Beijing, Grand Canyon Mall entrenches our presence in the capital city, which is also the country’s biggest retail market. This acquisition, as well as the asset enhancement at CapitaMall Minzhongleyuan which will be completed in the second quarter of next year, will provide a strong foundation for growth from next year.”

To partly finance the acquisition of the mall, CRCT has launched an equity fund raising on 23 October 2013 for the issue of 45.4 million new units at $1.30 per unit through a non-renounceable preferential offering to its existing unitholders. CRCT plans to raise gross proceeds of about $59 million. The preferential offering commenced yesterday and will close next Wednesday, 13 November 2013. As the preferential offering is fully underwritten and additional bank debt has been secured, CRCT targets to complete the acquisition by the end of this year.

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凯德商用中国信托的FY13业绩向好，FY14产业组合料将更强劲
文： 王秋莹 （译：伍丽芳） 2014年02月03日 企业摘要
http://www.sharesinv.com/zh/articles/44412/

凯德商用中国信托(CapitaRetail China Trust, CRCT)在上周五公布了其全年业绩，其总收入增长4.9%至1亿6,010万元，净产业收入提高3.4%至1亿零300万元。在第四季度里，CRCT的总收入上升8.9%至4,120万元，净产业收入则上扬6.6%至2,580万元。

值得一提的是，由于租金上调，CRCT从凯德西直门商场、凯德望京商场和凯德赛罕商场取得收入增长，这因凯德民众乐园自2013年7月进行提升工程休业，令收入减少而被部分抵消。其业绩也因新元兑人民币的汇率有利而提高。

虽然凯德民众乐园和凯德北京首地大峡谷购物中心(于2013年12月30日收购)的业绩不佳，但CRCT的业绩仍有显著的进步，其4Q13和FY13总收入分别增加16.8%及9.1%。

在业绩发布会上，CRCT总裁陈智雄将CRCT的健康增长势头归功于消费情绪良好，尽管中国市场保持审慎。他表示，中国政府的目标依然是重新平衡中国的增长动力，并推动消费，加上城市化发展的速度加快，以及个人所得收入增加，CRCT将可从以消费推动经济的这股转型趋势中受惠。

关于CRCT的产业组合
除了凯德民众乐园和凯德北京首地大峡谷购物中心之外，CRCT的租金仍在4Q13和FY13分别上升17.5%及13.8%。租户销售额及购物中心的访客流量均提高，CRCT的铺位租用率维持在98.2%高位。

陈智雄指出，预计将于2Q14之前完成提升工程的凯德民众乐园目前有71%的铺位租出并进行预先协商，它将在提升工程完工后开始为CRCT业绩逐步带来贡献。CRCT最新纳入的产业凯德北京首地大峡谷购物中心也预计将在今年带来全年贡献，而其预租率也从被收购前的92.7%上升至95.9%(截至2013年12月31日)，该产业的预租率料将提高至98%。

由于部分的融资来自短期贷款，凯德北京首地大峡谷购物中心的净负债比和整体净负债水平预计将受到压力，尽管CRCT目前正支付这些贷款。虽然如此，CRCT大部分的固定利率债务(约88%)已进行对冲，抵消了利率不稳定的部分影响。其4Q13平均债务成本仍为偏低的2.6%。

另一方面，凯德芜湖商场也是业绩发布会的焦点之一，其租金下降是因为当地的居住环境备受考验，使中国政府必须重新安顿许多家庭。陈智雄对此表示：“但是，芜湖商场的每平方英尺的销售额已提高，显示所吸引到的购物者的消费能力较高，而这座商场仍为CRCT带来良好的收益率。”

陈智雄指出，尽管租金下跌，但芜湖商场的新租户吸引到更多优质客户，令上述风险完全被抵消。

此外，陈智雄仍对从其产业组合充分取得回报保持审慎。CRCT将继续寻求潜在收购项目，并重新探讨为其现有资产如凯德望京商场及凯德芜湖商场进行提升工程的可能性。

鉴于CRCT所有的资产将于今年下半年全面营运，CRCT预计将在未来达到新的里程碑。其股价在上周五以1.305元开盘，较其之前的1.295元最后交易价高，它也正以低于其1.48元净资产值的价位交易。CRCT宣布派发每单位0.0433元的股息(2013年7月至12月)，使其2013年的每单位派息提高至0.0902元。根据CRCT的2013年12月31日收盘价，其单位收益率为6.8%。

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CapitaRetail China Trust's announces 1Q DPU of $19.6 mil
Source: The Edge   |   Publish date: Thu, 24 Apr 08:40
http://www.theedgesingapore.com/the-daily-edge/business/48088-capitaretail-china-trusts-announces-1q-dpu-of-196-mil.html

The manager of CapitaRetail China Trust (CRCT) announced that it recorded distributable income of $19.6 million for the period from 1 January to 31 March 2014 (1Q 2014), an increase of 13.2% over the $17.3 million for 1Q 2013.

Distribution per unit (DPU) for 1Q 2014 was 2.40 cents, an increase of 3.9% from a year ago. On a quarter-on-quarter basis, DPU for 1Q 2014 grew 9.1% over 4Q 2013, as CapitaMall Grand Canyon made its first full quarter contribution.

Based on an annualised DPU of 9.73 cents and CRCT’s closing price of $1.46 per unit on 23 April 2014, the annualised distribution yield for 1Q 2014 was 6.7%.