KUALA LUMPUR: CapitaMalls Malaysia Trust’s (CMMT) net profit for the first quarter ended March 31, 2013 (1Q13) increased to RM35.85 million, 4.08% higher than the RM34.44 million achieved in the same period a year ago.
In line with the higher profit, the company announced a distribution per unit (DPU) of 2.18 sen for 1Q13, up 4.3% from the 2.09 sen announced in the previous corresponding period of 2012.
In a filing with Bursa Malaysia yesterday, CMMT said it achieved a distributable income of RM38.5 million for 1Q13, an increase of 4.6% from RM36.8 million recorded in the previous corresponding quarter.
“This was underpinned by net property income of RM51.5 million, an increase of 5.7% over the RM48.8 million recorded in 1Q12.”
CapitaMall Malaysia REIT Management Sdn Bhd (CMRM) CEO Sharon Lim said the trust’s four malls performed well in 1Q13, recording an occupancy rate of 98.7% across its portfolio.
She said the trust’s asset enhancement initiatives are on track and that the management will continue to upgrade the malls to further enhance shopping experience and drive shopper traffic.
It was reported recently that the trust is eyeing more shopping malls to increase its retail-centric portfolio after receiving the nod from its unit holders to allot and issue up to 353.6 million new units of CMMT, amounting to 20% of its existing fund size.
Lim was quoted as saying that the management is always on a lookout for new acquisitions but has not confined their search to any particular area.
This article first appeared in The Edge Financial Daily, on April 17, 2013.
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