CRCT posts 8.5% decline in 4Q DPU to 2.37 cents on additional tax provision and forex losses

SINGAPORE (Jan 26): The manager of CapitaLand Retail China Trust (CRCT) has declared a distribution per unit (DPU) of 2.37 cents for the fourth quarter ended Dec 2016, 8.5% lower from 2.59 cents a year ago.

This brings the total DPU for FY16 to 10.05 cents, 5.2% lower than then 10.6 cents declared for FY15.

The drop in 4Q DPU was mainly attributable to higher property tax provision for CRCT’s Beijing malls, due to a change from cost to revenue basis effective 1 July 2016, and a weaker RMB against SGD compared to a year ago.  

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