CapitaLand Malaysia Trust’s net property income soars 51.8% YoY to $16.6m in 2Q23

Contribution from Queensbay Mall lifted the REIT’s income.

The net property income (NPI) of CapitaLand Malaysia Trust (CLMT) soared 51.8% YoY to $16.6m (RM56.8m) in 2Q23, its latest financial statement revealed.

In a bourse filing, the CLMT’s manager said the first full quarter contribution from the newly acquired Queensbay Mall and higher rental income from the majority of the REIT’s retail properties drove the increase in its NPI.

Given the higher NPI, the REIT’s distribution per unit also increased, rising 6.0% YoY to $0.0031 (RM0.0106) in 2Q23.

Since CLMT pays out its DPU on a half a year basis, unitholders will receive a total DPU of $0.0035 (RM0.0119) for the period from 10 March to 30 June, payable by September.

1 SGD = 3.43 RM