COMMERCIAL PROPERTY | Staff Reporter, Singapore

CapitaLand Mall Trust’s income rises by 4.4% to $392m in 2015

Distribution per unit also increased by 3.8%.

The firm demonstrated its resilience through different economic cycles as it books a 4.4% increase in its distributable income.

According to a press release by CapitaLand Mall Trust (CMT), distributable income for the quarter was also higher by 2.8% compared to the previous quarter at $101.9m, while DPU for the fourth quarter increased by 0.7% at 2.88 cents.

“Based on CMT’s closing price of S$1.960 per unit on 21 January 2016, the distribution yield is 5.83%,” the press release said.

Danny Teoh, chairman of CMTML said the good set of results was a result of the strength of the firm’s portfolio which is made up of predominantly necessity shopping malls connected to or near transportation hubs serving large catchment areas.

“In 2015, we reinforced our leadership position as Singapore’s largest real estate investment trust with the acquisition of Bedok Mall on 1 October 2015. In addition, we unlocked value for unitholders with the sale of Rivervale Mall on 15 December 2015, where we recognised a gain of about S$72.7 million,” he added.

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