CMMT’s 1H 2013 annualised distribution per unit increases 3.8% year-on-year
Distribution per unit of 4.35 sen for 1H 2013
Kuala Lumpur, 19 July 2013 – CapitaMalls Malaysia REIT Management Sdn. Bhd. (“CMRM”), the manager of CapitaMalls Malaysia Trust (“CMMT”), is pleased to announce that CMMT achieved a distribution per unit (“DPU”) of 4.35 sen for the period from 1 January 2013 to 30 June 2013 (“1H 2013”), 3.6% higher than the DPU of 4.20 sen in the same period last year (“1H 2012”). The annualised DPU of 8.77 sen represents an increase of 3.8% over the same period last year1, and translates to an annualised distribution yield of 5.2% based on CMMT’s closing price of RM1.69 per unit on 18 July 2013.
CMMT’s DPU for the quarter from 1 April 2013 to 30 June 2013 (“2Q 2013”) was 2.17 sen, a 2.8% increase over the 2.11 sen for the same quarter in 2012 (“2Q 2012”). As CMMT’s DPU is paid out twice a year, unitholders can expect to receive their DPU for 2Q 2013, along with their DPU of 2.18 sen for 1Q 2013, amounting to a total of 4.35 sen per unit, on 30 August 2013.
For the quarter under review, CMMT achieved net property income of RM50.5 million, an increase of 3.5% over the RM48.8 million for 2Q 2012.
Mr David Wong Chin Huat, Chairman of CMRM, said, “Despite the uncertainty weighing on the global economic recovery, Malaysia’s economy continues to be powered by strong domestic demand, and is on track to achieve the 5.0% to 6.0%2 growth projection for 2013. As a dedicated retail real estate investment trust, CMMT is well-positioned to benefit from this growth trend.”
Ms Sharon Lim, CEO of CMRM, said, “CMMT’s portfolio of four quality malls in the key urban centres of Penang, Kuala Lumpur, Selangor and Kuantan continued to perform well in the second quarter, with a nearly-full occupancy rate of 98.8% across the portfolio.”
“The asset enhancement initiatives at our malls are progressing well. Sungei Wang Plaza’s refurbishment works, which commenced in November 2012, are on track to be completed by the end of this year. Shoppers can expect improvements such as new ceilings and tiles, upgraded lift lobbies, as well as a covered walkway along the mall’s frontage on Jalan Sultan Ismail. While the on-going Mass Rapid Transit (“MRT”) construction works in Bukit Bintang are affecting shopper traffic at the moment, Sungei Wang Plaza will stand to be a long-term beneficiary when the Bukit Bintang Central MRT station, which is located close to the mall, opens – expected to be in 2017.”
“Over in Kuantan, East Coast Mall embarked on additional asset enhancement works in April 2013, which includes the conversion of some car park bays on the third floor into retail space. We will continue to upgrade our malls to further enhance the shopping experience and help drive shopper traffic.”
Summary of CMMT’s results
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1As 2012 was a leap year, the DPU was annualised based on 366 days. 2Source: Bank Negara.