February 25, 2020 / 10:38 PM / a month ago

BRIEF-Capitaland Posts Qtrly Profit Attributable S$926.6 Mln

Capitaland Limited:

** QTRLY PROFIT ATTRIBUTABLE S$926.6 MLN VS S$475.7 MLN

** PROPOSING A TAX-EXEMPT ORDINARY DIVIDEND OF 12.0 CENTS PER SHARE FOR FINANCIAL YEAR ENDED 31 DEC 2019

** QTRLY REVENUE S$ 2.38 BLN VS S$1.62 BLN

** SUDDEN OUTBREAK OF COVID-19 DEFINITELY AFFECTED BUSINESSES & THOSE OF PARTNERS AND TENANTS, ESPECIALLY IN CHINA AND SINGAPORE

** REMAIN POSITIVE ON LONG-TERM FUNDAMENTALS FOR SINGAPORE AND CHINA

** BOARD MEMBERS & SENIOR MANAGEMENT WILL TAKE A REDUCTION IN THEIR BOARD FEE AND BASE SALARY FROM 5% TO 15% EFFECTIVE FROM 1 APRIL 2020

** GROUP HAS ALSO IMPOSED A WAGE FREEZE FOR ALL STAFF AT MANAGERIAL LEVEL AND ABOVE

** MEASURES ON SALARY/WAGE WILL BE REVIEWED AFTER SIX MONTHS OR WHEN POSITION ARISING FROM COVID-19 OUTBREAK HAS STABILISED

** FOR RETAIL PARTNERS, PART OF MANAGERIAL STAFF COMPENSATION IN SINGAPORE TO BE PAID IN CAPITAVOUCHERS FOR USE IN CAPITALAND MALLS

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