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CapitaMalls Asia profit up 17% in Q4

CapitaLand's regional shopping mall arm CapitaMalls Asia (CMA) said on Thursday net profit rose 17 per cent to S$216.4 million in the fourth quarter of last year, helped by a strong performance in Singapore.

SINGAPORE: CapitaLand's regional shopping mall arm CapitaMalls Asia (CMA) said on Thursday net profit rose 17 per cent to S$216.4 million in the fourth quarter of last year, helped by a strong performance in Singapore.

For the full year, net profit rose 9.9 per cent to S$600 million, helped by higher revaluation gains from Singapore properties ION Orchard and Bedok Mall, profit recognition for units sold in Bedok Residences, and contributions from Star Vista.

Barclays said CMA's full-year results were broadly in line with forecasts, but noted the growth in operating earnings had come mainly from Singapore.

In China, CMA saw further delays in mall openings.

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