There are 'very encouraging signs' in CapitaLand's residential business and retail operations in China, said Andrew Lim, the company's group chief financial officer.
"China remains a bright spark," Andrew Lim, group chief financial officer of CapitaLand Group, told CNBC'sHis comments were made following the company's announcement that profits for the first half of 2020 fell 89% to 96.6 million Singapore dollars , from 875.4 million Singapore dollars a year ago.
Earnings before interest and taxes also dropped 71% from 2019. Singapore and China remain the "key contributors to EBIT," accounting for 74.1% of earnings before interest and taxes. "If you look across our China businesses, you'll see very encouraging signs in our residential business, our retail operations and in the … appetite to look at acquiring and disposing of properties," he said.
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