CapitaLand Malaysia REIT Management Sdn. Bhd. (formerly known as CapitaLand Malaysia Mall REIT Management Sdn. Bhd. or CMRM), the manager of CapitaLand Malaysia Trust (formerly known as CapitaLand Malaysia Mall Trust or CLMT), announced today a distributable income of RM42.0 million for the period 1 January to 30 June 2022 (1H 2022), 131.5% higher than the RM18.2 million for the same period a year ago. 1H 2022 distribution per unit (DPU) was 1.95 sen, up 126.7% year-on-year.
In a statement, it said that the better performance in 1H 2022 was mainly due to the recovery in retail sentiment as tenants’ businesses gradually returned to normalcy.
The Board of CMRM has elected to apply the Distribution Reinvestment Plan (DRP) to the income distribution for 1H 2022. The dates of book closure and income distribution will be announced upon obtaining the necessary regulatory approvals.
1H 2022 net property income (NPI) was RM73.5 million, 43.1% higher than a year ago. For the period 1 April to 30 June 2022 (2Q 2022), NPI increased 41.6% year-on-year to RM37.4 million, largely attributed to higher contributions from Gurney Plaza, The Mines and East Coast Mall.
Mr Lui Chong Chee, Chairman of CMRM, said: “Malaysia’s retail sector continued to show recovery in 1H 2022, supported by festive spending and pent-up consumer demand. With the progressive easing of movement restrictions coupled with the reopening of international borders, we are optimistic that the sector’s recovery momentum will sustain throughout the year. In 2Q 2022, CLMT marked an important milestone in its diversification strategy with the proposed acquisition of a logistics property in Penang1. This will pave the way for CLMT to build a more diversified and resilient portfolio.”
Mr Tan Choon Siang, CEO of CMRM, said: “CLMT has delivered a DPU of 1.95 sen for 1H 2022, surpassing the full-year DPU of 1.84 sen in FY 2021. Portfolio occupancy rate as at 30 June 2022 improved to 80.8% as all CLMT malls registered improvements in occupancies. Portfolio tenant sales per square foot in 2Q 2022 had exceeded pre-pandemic levels, notching an increase of 18.9% when compared to the average in 2019.”
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