CapitaLand China Trust is looking for acquisitions. Tze Wooi, Chief Executive Officer said during the First Half 2023 Results Earning Cal, "At the same time we are also actively looking to an opportunity to monetize some of this retail, essentially they have matured and in terms of the growth profile, they no longer be there. So I think this is something that we are definitely focusing to unlock value.

At the same time, I think once you do that, we are constantly looking at improving the portfolio quality in terms of the income and the diversification. So we are looking into new accretion kind of acquisition that will help to strengthen our overall portfolio duration, account diversification and geography and asset class and revenue stream". "So definitely, it will help us as we plan for new acquisitions.

In terms of the kind of funding mix and the kind of that mix onshore and offshore. In the past, we take offshore debt because it's cheaper. Today, I think we are structuring more towards the onshore debt if we look at acquisitions that we can structure around that".

"I think we are exploring with various banks to see this is -- whether it is cost effective for us. From our point of view, I think we would like to have a little bit of that natural hedging where we can. I think onshore is the more natural way, so whenever we are able to reconsider our portfolio through acquisition, we'll take on a little bit more onshore so that it moves us towards what I mentioned that 20% to 25% loan book ratio.

Offshore, whether we can do a bit of all this in that take, whether we can raise CNY or we can raise Sing but convert to renminbi kind of interest, I think these are all potential hedging kind of instruments that we are all working on". "So new economy and also looking at logistics. So I think on the new economy side, I think we are expecting a softer second half relative to last year's second half.

I think that's where things are from a business standpoint. On the capital management side, I think I mentioned there are a couple of things that we are doing that will help us rebalance some of our debt profile and capture more of the onshore cost savings. And from a reconstitution point of view, I think we are looking to unlock value for some of the mature assets and alongside that we'll concentrate and focus on bringing in some of this in organic new accretive acquisitions that can help us strengthen our overall portfolio when the window is there, when the market is more conducive.

I think these are something that we're preparing as we enter the second half".