Friday, February 18, 2011

CapitaMalls Asia’s FY2010 Net Profit Grows 9 Per cent to S$421.9 million

CapitaMalls Asia Limited on Thursday announced that it achieved

profit after tax and minority interests (PATMI) of S$421.9 million for

FY2010, up 9 per cent from the S$388.1 million recorded in FY2009.

Revenue under management was S$1.36 billion for the same

period, up 6 per cent from S$1.29 billion in the previous year.

Liew Mun Leong, Chairman of CapitaMalls Asia, said: “CapitaMalls

Asia recorded a strong set of results in our first full year of operations

since listing, tracking the robust economic growth in Asia, and

capitalising on our proactive asset enhancement initiatives and

capital management strategy. Our business is in this region, and we

are well-positioned to ride on this growth.”
Last year, the group committed a total investment of S$2.0 billion in

six new projects and recycled about S$500 million of capital through

the monetisation of Clarke Quay to CapitaMall Trust and the listing

of CapitaMalls Malaysia Trust.

The group also won the Bedok Town Centre site last September,

adding that it will put the site up for tender this year.

It also opened five malls in China last year and acquired four more,

giving it a total of 53 shopping malls across 34 cities in China, of

which 38 are operational. It said it is targeting to open another five

malls in China this year.

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