CapitaLand's mall traffic in China rebounds despite closures

Submitted By:  Danielle Isaac Case Study:  No Shopper traffic recently rose to 40-50% of the pre-COVID-19-outbreak levels. CapitaLand has closed 12 of its malls in China, with four of these being in Wuhan. According to a note from OCBC Investment Research, the picture is not entirely drastic, however, as its shopper traffic in China rebounded to 40-50% of the pre-outbreak levels after plunging by as much as 80-90%. Its Singapore operations are also affected. Footfall dipped by around 50% for its malls during the weekend after DORSCON was raised to Orange, but has now moderated to a 5% decline instead. read more