In RMB terms, NPI for FY 2014 increased by RMB131.4 million, or 25.7% over FY 2013. This was
mainly due to the new contribution of RMB86.6 million from CapitaMall Grand Canyon which was
acquired on 30 December 2013. FY 2014 recorded higher NPI for all malls except CapitaMall
Minzhongleyuan and CapitaMall Wuhu. Multi-tenanted malls that registered strong double digit
growth in NPI included CapitaMall Saihan, CapitaMall Qibao, CapitaMall Xizhimen and CapitaMall
Wangjing. The master-leased malls – CapitaMall Anzhen, CapitaMall Erqi and CapitaMall Shuangjing
– also showed stable year-on-year growth.
NPI By Property
FY 2014
1
S$’000
FY 2013
2
S$’000
%
Change
FY 2014
1
RMB’000
FY 2013
2
RMB’000
%
Change
Multi-Tenanted Malls
CapitaMall Xizhimen
37,988 32,649
16.4 184,571 162,153
13.8
CapitaMall Wangjing
29,557 26,007
13.7 143,607 129,164
11.2
CapitaMall Grand Canyon
17,815
–
N.M.
86,555
–
N.M.
CapitaMall Minzhongleyuan
3
271
675 (59.9)
1,313
3,353 (60.8)
CapitaMall Qibao
8,543
7,270
17.5
41,506 36,102
15.0
CapitaMall Saihan
6,155
5,171
19.0
29,909 25,681
16.5
CapitaMall Wuhu
2,394
2,911 (17.8)
11,630 14,458 (19.6)
102,723 74,683
37.5 499,091 370,911
34.6
Master-Leased Malls
CapitaMall Anzhen
13,777 13,319
3.4
66,936 66,149
1.2
CapitaMall Erqi
8,336
7,963
4.7
40,504 39,549
2.4
CapitaMall Shuangjing
7,529
7,073
6.4
36,579 35,126
4.1
29,642 28,355
4.5 144,019 140,824
2.3
Total
132,365 103,038
28.5 643,110 511,735
25.7
NPI Contribution By Property
FY 2014
1
(%)
FY 2013
2
(%)
Multi-Tenanted Malls
CapitaMall Xizhimen
28.6
31.7
CapitaMall Wangjing
22.3
25.2
CapitaMall Grand Canyon
13.5
–
CapitaMall Minzhongleyuan
3
0.2
0.7
CapitaMall Qibao
6.5
7.1
CapitaMall Saihan
4.7
5.0
CapitaMall Wuhu
1.8
2.8
Master-Leased Malls
CapitaMall Anzhen
10.4
12.9
CapitaMall Erqi
6.3
7.7
CapitaMall Shuangjing
5.7
6.9
1 The financial year from 1 January 2014 to 31 December 2014.
2 The financial year from 1 January 2013 to 31 December 2013.
3 CapitaMall Minzhongleyuan’s NPI was impacted by the road closure to facilitate the construction of a new subway line.
N.M. – Not Meaningful
Financial Review
54 | CapitaRetail China Trust Annual Report 2014
