Retail in Asia

In Sectors

CapitaMalls Asia’s profit falls

Singapore shopping-mall developer CapitaMalls Asia Ltd said its second-quarter net profit fell 24 percent from a year earlier because of smaller revaluation gains on its property assets.

The developer, which listed on the Singapore Exchange last year and has a SGD21.8 billion (USD16.15b) portfolio of assets in Singapore, Malaysia, Japan and India, also flagged increased investment in assets in the second half of the year.

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(Source: The Wall Street Journal Online)