CapitaLand Malaysia REIT announced that it has achieved a higher net property income of RM217.4 million for the FY 2023 compared to RM152.5 million in FY 2022. The year-on-year growth of 42.6% it said was primarily driven both by revenue contributions from Queensbay Mall and the stronger performance of CLMT’s existing portfolio.
Distributable income for FY 2023 was RM109.8 million, 25.5% higher than FY 2022. Distribution per Unit (DPU) was 4.17 sen, an increase of 4.0% over the DPU of 4.01 sen for FY 2022.
For 4Q 2023, distributable income was RM32.7 million, an increase of 40.8% over the RM23.2 million for the same period last year. DPU was 1.19 sen, 13.3% higher than the 1.05 sen for 4Q 2023. As CLMT’s DPU is paid out on a half-yearly basis, Unitholders can expect to receive a total DPU of 2.24 sen for the period from 1 July 2023 to 31 December 2023, payable by March 2024.
The Board of CMRM has elected to apply the Distribution Reinvestment Plan to the income distribution for 2H 2023. The dates of book closure and income distribution will be announced once the necessary regulatory approvals have been obtained.
As at 31 December 2023, CLMT’s portfolio valuation was RM5.0 billion as appraised by independent valuers. This represents an increase of RM1.1 billion over the previous independent valuation of RM3.9 billion in FY 2022 due to the inclusion of Queensbay Mall.
