CMMT records distribution per unit of 1.90 sen for 3Q 2018
Distribution per unit of 5.92 sen for YTD 2018
Kuala Lumpur, 24 October 2018 – CapitaLand Malaysia Mall REIT Management Sdn. Bhd. (CMRM), the manager of CapitaLand Malaysia Mall Trust (CMMT), announced today that CMMT recorded a distribution per unit (DPU) of 1.90 sen for the quarter ending 30 September 2018 (3Q 2018). For the period 1 January to 30 September 2018 (YTD 2018), CMMT achieved DPU of 5.92 sen, which translates to an annualised DPU of 7.92 sen.
Based on CMMT’s closing price of RM1.11 per unit on 23 October 2018, the distribution yield was 7.14%. As CMMT’s DPU is paid out on a half yearly basis, Unitholders can expect to receive their DPU for 3Q 2018, along with their DPU for the quarter ending 31 December 2018, by February 2019.
For YTD 2018, CMMT recorded net property income (NPI) of RM162.1 million, supported mainly by higher year-on-year revenue from Gurney Plaza and East Coast Mall. The stronger performances from the two malls partially mitigated the lower contributions from the Klang Valley shopping malls.
Mr David Wong, Chairman of CMRM, said: “Against a backdrop of global uncertainties and challenging retail operating conditions, we continued to focus on strengthening the appeal of our malls through proactive asset management, including asset enhancement initiatives and tenant mix adjustments. Notwithstanding the challenges, we remain committed to delivering sustainable income distributions to Unitholders.”
Ms Low Peck Chen, CEO of CMRM, said: “For YTD 2018, Gurney Plaza and East Coast Mall continued to record year-on-year revenue growth, further cementing their respective market leadership in the Northern and East Coast regions of Peninsular Malaysia. Their growth helped to mitigate the lower contributions from our Klang Valley malls, which have been affected by increased competition in the vicinity and the ongoing asset enhancement works at Sungei Wang.”
“In 3Q 2018, Gurney Plaza welcomed the opening of Japanese ramen emporium Hakata Ippudo, Japanese cafe chain Hoshino Coffee, homegrown café chain San Francisco Coffee, luxury skincare La Mer and Korean beauty brand Innisfree. The addition of these well-known brands reaffirms Gurney Plaza’s attractiveness to retailers. To optimise the layout on Level 4 of Gurney Plaza and further diversify the mall’s offerings, we are in the midst of reconfiguring over 4,000 square feet of space into a lifestyle avenue housing fashion stores and café kiosks. In addition, the mall’s anchor tenant Parkson has commenced renovation works to transform its outlet at Gurney Plaza into the first Parkson Elite flagship store outside the Klang Valley.”
“The creation of the Jumpa lifestyle annex at Sungei Wang is progressing according to schedule. Opening in 2Q 2019, shoppers can look forward to an exciting line-up of more than 80 specialty shops offering fashion, food and beverage, family entertainment and athleisure. Over at The Mines, we have started reconfiguration works at the food court on Level 2 to expand the mall’s food and beverage offerings.”
“During the quarter under review, we launched the mobile app for CapitaStar rewards programme, which is aimed at generating business opportunities for our tenants and enhancing shopping convenience for shoppers. Looking ahead, we will continue to leverage on CapitaStar and organise attractive marketing activities to strengthen shopper engagement, on top of ongoing efforts to optimise our retail mix and identify asset enhancement opportunities. These will help ensure that our malls remain relevant and attractive to shoppers and retailers.”
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, 3 Damansara and The Mines.
 Based on closing price of RM1.11 per unit on 23 October 2018.
 Based on closing price of RM1.46 per unit on 24 October 2017.