CapitaLand Mall Trust NPI up 1.6% to $121.37m in Q3

Weak rentals for Bedok Mall, Plaza Singapura, and Junction 8 pulled revenue down.

CapitaLand Mall Trust's (CMT) net property income (NPI) rose 1.6% YoY from $119.51m to $121.37m in Q3.

According to its financial statement, distributable income grew 0.3% YoY to $98.86m, whilst distribution per unit (DPU) remained at 2.78 cents.

Gross revenue was $169.4m, a decrease of $0.3m or 0.2% YoY.

CMT said the decrease was mainly due to lower rental achieved for Bedok Mall, Plaza Singapura and Junction 8.

Property operating expenses hit $48m, 4.2% lower YoY mainly due to lower property tax and utility expenses.

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