CapitaLand Retail China Trust posts encouraging signs of recovery

In its 1Q 2020 business updates, CapitaLand Retail China Trust shared encouraging signs of recovery in its portfolio of China malls:
– Shopper Traffic in Mar’20 up 105 pc month-on-month
– Tenant sales in Mar’20 up 189 pc month-on-month
– Malls that were temporarily closed have all reopened in Apr’20
– About 90 pc of stores back in business as at mid-Apr’20
Tze Wooi Tan CFA, CEO of CRCT manager, said, “Our focus now is to collaborate closely with our retailers to meet the pent-up demand of our shoppers and CapitaStar members with targeted offerings and attractive promotions. We will also continue to put in place best practice precautionary measures to ensure the well-being of out tenants, shoppers and employees.”