CapitaMalls Asia's profits jumped 9.6% to S$73.2m

Driven mainly by Star Vista and Japan malls.

According to OCBC Investment Research, CMA’s 1Q13 PATMI came in at S$73.2m – up 9.6% YoY mostly due to contributions from Star Vista, four malls in Japan and Queensbay Mall, a S$6.6m gain from warehousing of two assets sold to CCDFII, better performance from CMT, ION Orchard and the China Funds, and a sale at The Orchard Residences. 

Here's more:

Excluding one-time items, we judge 1Q13 results to be somewhat above expectations. 1Q core PATMI, estimated at S$64.6m, now constitutes 34% of our FY13 core PATMI forecast.

1Q13 topline came in at S$91.5m which increased 29.1% YoY due to contributions from Star Vista and four malls in Japan and higher management fee revenue from new malls and improved performances.

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