CMMT posts net property income of RM237.1 million for FY 2017
Distribution per unit of 8.22 sen for the year
Kuala Lumpur, 24 January 2018 – CapitaLand Malaysia Mall REIT Management Sdn. Bhd. (CMRM), the manager of CapitaLand Malaysia Mall Trust (CMMT), announced today that CMMT recorded net property income (NPI) of RM237.1 million for the year from 1 January to 31 December 2017 (FY 2017). Gurney Plaza and East Coast Mall turned in stronger performances on the back of higher rental income and gross turnover rent, which partially mitigated the lower contributions from the Klang Valley shopping malls.
For FY 2017, CMMT recorded distributable income of RM167.4 million and distribution per unit (DPU) of 8.22 sen. Based on CMMT’s closing price of RM1.40 per unit on 23 January 2018, the FY 2017 DPU translates to a distribution yield of 5.9%. Unitholders can expect to receive the total DPU of 4.08 sen per unit for the period from 1 July to 31 December 2017 on 28 February 2018. The book closure date is 9 February 2018.
Mr David Wong, Chairman of CMRM, said: “Malaysia’s economy was expected to grow by 5.2% to 5.7% for the whole of 2017. Looking ahead, we expect consumer and business sentiment to remain cautious in 2018 as concerns about rising costs persist. The operating environment for the retail industry will continue to be affected by cautious consumer sentiment and increasing competition, particularly in the Klang Valley. Notwithstanding the challenges, we are committed to deliver steady returns for unitholders in the long term by proactively managing CMMT’s portfolio of well-located malls with a track record of resilience through different economic cycles.”
Ms Low Peck Chen, CEO of CMRM, said: “In FY 2017, the NPI growth from Gurney Plaza and East Coast Mall helped to moderate the lower contributions from our Klang Valley malls, which have been impacted by increased competition in the surrounding area. As part of the continual efforts to increase the attractiveness of our malls, we recently completed reconfiguration works at the basement level of Gurney Plaza to offer more food and beverage (F&B) choices, and revamped The Mines’ Level 4 digital zone to house a wider selection of service-related stores. We have also introduced more popular dining choices at Tropicana City Mall’s new F&B extension and The Mines.”
“For the new financial year, we have identified asset enhancement opportunities at Sungei Wang, The Mines and East Coast Mall to further strengthen their appeal. Plans are also afoot to rebrand Tropicana City Mall to enhance its positioning as the preferred dining and gourmet shopping destination. As part of our digital strategy, we plan to launch the CapitaStar mobile application this year to enhance shopper engagement.”
Summary of CMMT’s results
Gross revenue (RM ’000)
Net property income (RM ’000)
Distributable income (RM ’000)
For the period
Annualised distribution yield
N.M. – Not meaningful
 Made up of Sungei Wang, Tropicana City Mall and The Mines.
 Source: Bank Negara Malaysia.
 Based on closing price of RM1.40 per unit on 23 January 2018.
 Based on closing price of RM1.62 per unit on 23 January 2017.