CapitaRetail China Trust reported unaudited group earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, on group basis, the company reported gross rental income of SGD 48,329,000 compared to gross rental income of SGD 38,376,000 for the same period a year ago. Gross revenue was SGD 52,689,000 compared to SGD 41,248,000 last year. Net property income was SGD 33,547,000 compared to SGD 25,777,000 last year. Total return before taxation was SGD 62,824,000 compared to SGD 56,582,000 last year. Total return after taxation was SGD 44,292,000 compared to SGD 38,548,000 last year. Total return attributable to unit holders was SGD 44,052,000 or 5.32 cents per diluted share compared to SGD 36,534,000 or 4.69 cents per diluted share last year. Net cash from operating activities was SGD 30,331,000 compared to SGD 12,626,000 last year. Capital expenditure on investment properties was SGD 2,058,000 compared to SGD 4,899,000 last year. Purchase of plant and equipment was SGD 914,000 compared to SGD 345,000 last year. In SGD terms, gross revenue for the fourth quarter of 2014 was increased by SGD 11.4 million, or 27.7% as compared to fourth quarter of 2013 mainly due to stronger RMB against SGD.

For the year, on group basis, the company reported gross rental income of SGD 189,088,000 compared to gross rental income of SGD 149,083,000 for the same period a year ago. Gross revenue was SGD 203,262,000 compared to SGD 160,075,000 last year. Net property income was SGD 132,365,000 compared to SGD 103,038,000 last year. Total return before taxation was SGD 203,464,000 compared to SGD 184,453,000 last year. Total return after taxation was SGD 146,355,000 compared to SGD 135,948,000 last year. Total return attributable to unit holders was SGD 144,598,000 or 17.69 cents per diluted share compared to SGD 132,918,000 or 17.52 cents per diluted share last year. Net cash from operating activities was SGD 111,416,000 compared to SGD 68,625,000 last year. Capital expenditure on investment properties was SGD 14,597,000 compared to SGD 7,906,000 last year. Purchase of plant and equipment was SGD 2,960,000 compared to SGD 1,937,000 last year. Net asset value per unit was SGD 1.63 as on December 31, 2014 compared to SGD 1.48 per unit last year. Adjusted net asset value per unit was SGD 1.58 as on December 31, 2014 compared to SGD 1.43 per unit last year. On Trust basis, net asset value per unit was SGD 0.62 as on December 31, 2014 compared to SGD 0.68 per unit last year. On Trust basis, adjusted net asset value per unit was SGD 0.57 as on December 31, 2014 compared to SGD 0.63 per unit last year. In SGD terms, gross revenue increased by SGD 43.2 million, or 27.0% compared to fiscal 2013 due to stronger RMB against SGD.