Capitaland Integrtd Unit (CPAMF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to CICT's briefing. I'm Alison from the investor relations team. I hope you had a good start to the morning. We had a very busy one. We released two announcements this morning. Our first half results and the proposed acquisition of the 55% interest in Capital Spring. Our CEO, Chun Xiang, is here. He will be covering them in his presentation later. We will actually also have the Q&A session. We'll be happy to hear your thoughts and address any questions that you may have. Without further ado, I'd like to invite Chun Xiang on to the stage. Chun Xiang, please. Good morning, everyone. Thank you for joining us today. We have quite a bit to cover today, so without further ado, we'll start. Maybe I'll just run through the presentations for both the results and the transaction, and then we'll just take some Q&A at the end. Okay. So we will try to, I think most people will be more interested in a transaction. So we will try to focus on some of the key highlights for the results first. Just go through the few slides before we talk about the transaction proper. I'm sure you guys have some burning questions on the transaction itself. So we will want to jump straight into that as soon as possible. Okay. So today, we announced the results. CICT delivered a fairly good set of performance for the first half of 2025. Gross revenue came in about $787.6 million. This is a slight decline of 0.5% year-on-year due to the absence of income from 21 Collier Key, which was, as you know, divested in November 2024. However, on a like-for-like basis, excluding 21 Collier Key, Gross revenue grew 1.4%, and similarly for MPI, it was down 0.4% year-on-year, but up 1.7% on a light-for-light basis. And these numbers really reflect the underlying strength and stability of our port...