SINGAPORE (Oct 27): OCBC is keeping its “hold” recommendation for CapitaLand Retail China Trust even as its 3Q results came within the bank’s expectations.

Gross revenue increased 7.5% to $55.3 million due largely to a stronger Yuan versus the Singdollar, even as gross revenue in renminbi terms fell 0.7% to RMB251.8 million.

The lower revenue was due to the impact of a road closure on CapitaMall Minzhongleyuan (MZLY) to facilitate the construction of a subway line and ongoing weakness at CapitaMall Wuhu.

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