Capitaland Integrtd Unit (CPAMF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

A very good morning to all of you. Welcome to Capital Land Integrated Commercial Trust First Half FY2024 Results Briefing. CICG released our results this morning and the materials are all uploaded on SGXNet and on CICG's website. So similar to what we have done for our full year briefing, we are conducting this session as a fireside chat instead of a formal presentation. So focusing on certain key themes and topics before we move on to the Q&A session. So before we start, we would like to introduce the panel. I am Mei Peng, the Head of Investor Relations. And in the center is our CEO, Mr. Tony Tan. And on Tony's left is Ms. Jacqueline Lee, our Head of Investment. And on Jacqueline's left is Mr. Lee Yi Chuan, our Head of Portfolio Management. On Tony's right is Ms. Wong Mei Lien, our Chief Financial Officer. So to kick off today's fireside chat, we would like to invite Tony to share with us some of the highlights of CICG's first half performance. Tony. Good morning. Hope you all have a little bit of time to digest the announcement this morning. Needless to say, I think we're quite pleased that we are able to deliver a resilient result in the first half. Bear in mind the performance of first half, number can be a little bit noisy. We have embarked on our AEI program in Galileo from February this year, which means that we have no income from Galileo from February onward. And at the same time, we have been able to ride on a positive active no rent discussion over the last 12 months or so resulting in a higher reversion rate so that slowly would translate into the income stream so while we actively work towards our active portfolio bear in mind that second half January macro environment is a little bit uncertain So we will pin our strategy actively to ensure we try to red...