Commercial & Industrial Property News Update

Malaysia - CMMT Announces 7.6% Rise In DPU For Q3

October 22, 2012

Distribution per unit (DPU) for CapitaMalls Malaysia Trust (CMMT) in the third quarter has risen to 2.13 sen from 1.98 sen in Q3 2011.

According to a statement by CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM), DPU for CMMT has increased by 7.6% in the third quarter, rising to 2.13 sen from 1.98 sen over the same period last year.

The manager of the fund also said that CMMT's annualised DPU was also higher by 7.8%, rising to 8.47 sen from last year's 7.86 sen. Meanwhile, CMMT's net property income surged by 19.2% to RM 49 million from RM 41.1 million in Q3 2011.

Said Sharom Lim, ceo of CMRM, "For Q3, our malls continued their growth momentum. The portfolio achieved a 19.2% increase in net property income due to the acquisition of East Coast Mall which was completed on 14 November 2011, as well as higher rentals from new and renewed leases."

She added that the average occupancy rate of malls owned by CMMT was 98.5% as at 30 September.

"Although the global economic outlook continues to be uncertain, Malaysia’s economic prospects remain positive with its GDP forecast to grow between 4.5% and 5% in 2012. The forecast for retail sales growth remains at 6% this year, as economic growth is underpinned by strong domestic consumption," noted Kee Teck Koon, Chairman at CMRM.

Tags: Shop for lease, Income units, Commercial properties

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