CapitaLand China Trust (CLDHF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This is CLCT's 3Q Updates Briefing. I'm Siyu Yi, IR for CLCT. And with me today, we have our CEO, Jerry, CFO, Joanne, CFO Designate, Lin Tong, Head of IPM, You Hong, and Nicole from the IR team. For this briefing, we will start with a brief presentation, followed by a Q&A session. If you have a question, please use the raise hand feature and I'll direct the time to you. Is that Jerry? Please go ahead. Hi, good morning. Welcome everybody to Capital Rands China's Trust Business Update for 3Q2025. I'm quite sure everyone has been watching this US-China President Trump and Chairman Xi coming together in South Korea. So that's actually a good way to get us started on this business update for CLCT. First, let me go to a snapshot of where we stand today in terms of our asset allocation. By percentage of GRI, our retail allocation is now at 69.9%, about 70%. That dropped from first half where it was 70.8%, about 1% drop, was because we divested this Kettlemore-Yuwa team through the CREIT securitization exercise. And as a result, of course, the other components that we ran up, 26.5% of GRIs in business parks, 3.6% in logistics parks. In terms of our distribution view, it's now 6.2%. Stock price came up a bit. That caused a compression in views. That is also reflecting some of the overall S3 view compression across the board. In terms of 3Q key highlights, I'm very happy to again share that CLCT together with our sponsor, we have listed the CLCR on Shanghai Stock Exchange on 29th September 2025. That is China's first international sponsored retail CWIC. It opened well. It opened trading at 19.6% above its IPO price of $5.718 per unit, that is CLCR. For CLCT, of course, we seeded this CREIT with our capital more imparting, and we also became a strategic investor through our 5% ...