Page 13 - ar2013

Management
Reports
11
causes and adopt green initiatives
that will contribute to building
a sustainable future for the
generations to come.
In September 2013, we took part in
CapitaMalls Asia’s signature annual
corporate social responsibility
programme, “My Schoolbag”
for the fourth consecutive year.
Staff volunteers from six of our
malls – CapitaMall Xizhimen,
CapitaMall Wangjing, CapitaMall
Minzhongleyuan, CapitaMall Qibao,
CapitaMall Saihan and CapitaMall
Wuhu – distributed new schoolbags
and stationery to underprivileged
first grade students.
CapitaMall Xizhimen worked
together with the International
Fund for Animal Welfare to organise
an exhibition on the plight of
wild animals at risk of extinction
from excessive hunting. A special
performance was also held to
celebrate the achievements of
the visually impaired or blind. In
addition, CapitaMall Wuhu hosted
30 underprivileged children for a
fun-filled day at the mall during
Mid-Autumn Festival.
We remain committed to protecting
our environment by engaging our
stakeholders in a wide range of
green activities.
Six of our malls – CapitaMall
Xizhimen, CapitaMall Wangjing,
CapitaMall Minzhongleyuan,
CapitaMall Qibao, CapitaMall Saihan
and CapitaMall Wuhu – turned off
their façade and non-essential lights
for 10 hours from 8.30 pm on
23 March 2013 to support Earth
Hour. In addition, we held other
activities to raise awareness
of green initiatives. CapitaMall
Xizhimen held “live” unplugged
musical performances and an eco
knowledge quiz, while CapitaMall
Wuhu organised a competition for
children to use recycled objects
to create eco-friendly artworks.
CapitaMall Saihan set up an event
for shoppers to swap their pre-loved
items with other shoppers, and held
a mass cycling event to promote
cycling as a healthy and green form
of transport. On a longer-term basis,
CapitaMall Qibao set up a small farm
on its roof to cultivate respect and love
for nature among children growing up
in the city.
PROPELLING FORWARD
Despite an uncertain global
economic environment, China
achieved GDP growth of 7.7%3 in
2013 – higher than the official target
of 7.5%. Retail sales also increased
by 13.1%3 year-on-year to RMB23.4
trillion3. China forecast 2014 GDP
growth to be 7.5%4.
The Chinese government
reaffirmed its plans to boost
domestic employment, improve
public services and invest in urban
infrastructure projects in an effort
to stimulate consumption to
drive economic growth. Prudent
economic and monetary policies
will be implemented and efforts to
support economic reforms will also
be stepped up. We are positive that
CRCT is in an advantageous position
to benefit from the consumption
driven economy.
We enter 2014 on a strong footing.
With contributions from CapitaMall
Grand Canyon and a further uplift
from the reopening of CapitaMall
Minzhongleyuan in the second
quarter after its major enhancement
works, we are confident 2014 will be
another year of solid performance.
ACKNOWLEDGEMENTS
We wish to thank our Board of
Directors for their contributions
and commitments. Ms Chew Gek
Khim, who has been with us since
the Initial Public Offering of CRCT in
2006, stepped down on 5 February
2014. We are grateful for her
guidance and dedication over the
past seven years, and wish her well
in her future endeavours.
We welcome Mr Christopher Gee
Kok Aun, who joined us on 24 January
2014. His experience and expertise
will be invaluable to the Board.
Finally, on behalf of the Board of
Directors and management, we
wish to express our appreciation
to our shoppers, customers,
tenants, business partners and
staff for your contributions in 2013.
Most importantly, we would like
to express our utmost gratitude
to our supportive Unitholders.
We remain committed to deliver
better returns and look forward to
your continued support.
LIEW CHENG SAN VICTOR
Chairman
TONY TAN TEE HIEONG
Chief Executive Officer
26 February 2014
1 Only includes shoppers at multi-tenanted malls except CapitaMall Minzhongleyuan, which is undergoing asset enhancement works and CapitaMall
Grand Canyon as the acquisition was completed on 30 December 2013.
2 Excluding CapitaMall Grand Canyon as the acquisition was completed on 30 December 2013.
3 Source: National Bureau of Statistics of China.
4 Source: The Chinese Academy of Social Sciences.