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- Distributable income climbed 10.9% y-o-y to RM37.3 million from RM33.6 million. CLMT declared a distribution of 1.28 sen per unit, up 7.6% from 1.19 sen a year earlier.
KUALA LUMPUR (April 16): CapitaLand Malaysia Trust (KL:CLMT) started financial year 2025 with a 9.6% year-on-year increase in first-quarter net property income (NPI), boosted by higher revenue from most properties, strong retail rental growth, and income from the fully occupied Glenmarie Distribution Centre after its upgrade.
The NPI for the quarter ended March 31, 2025 (1QFY2025) rose to RM37.5 million from RM33.5 million, while gross revenue increased 7.6% to RM120.4 million from RM111.9 million, according to the real estate investment trust’s filing with Bursa Malaysia on Wednesday.
Distributable income climbed 10.9% y-o-y to RM37.3 million from RM33.6 million. CLMT declared a distribution of 1.28 sen per unit, up 7.6% from 1.19 sen a year earlier.
As at end-March, CLMT's retail occupancy stood at 91.8%, while overall portfolio occupancy, including its fully leased logistics properties, reached 92.6%. Retail properties recorded positive rental reversions of 12.4% in 1QFY2025, compared with 11.3% in FY2024.
Shopper traffic, meanwhile, edged up 0.1% y-o-y and tenant sales per square foot rose 5.3%.
In a separate statement, CLMT manager CapitaLand Malaysia REIT Sdn Bhd chief executive officer Yong Su-Lin said the strong results built on the momentum of previous quarters, with most retail assets continuing to deliver robust performance.
“Looking ahead, we will continue to intensify efforts to attract exciting new tenants and deliver a well-curated tenant mix across our retail portfolio,” she said.
On the industrial front, Yong said CLMT had recently expanded into Johor with the acquisition of three industrial properties in Senai Airport City. These, along with earlier acquisitions in Nusajaya Tech Park and Elmina Business Park, are expected to contribute positively to earnings from the second half of FY2025.
She added that CLMT remains focused on capturing growth opportunities while maintaining disciplined capital management to deliver sustainable returns to unitholders.
CLMT’s share price closed half a sen or 0.8% lower at 63 sen on Wednesday, giving the REIT a market capitalisation of RM1.84 billion.
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