CapitaLand Mall Trust's net property income down 4% to $109.5m in Q2

Due to asset enhancement works, lower occupancy.

CapitaLand Mall Trust reported that its net property income declined 4% year-on-year in the second quarter to $109.5m.

This was mainly due to ongoing asset enhancement works in IMM Building and Bukit Panjang Plaza, and lower occupancy at JCube and Clarke Quay.

The group's gross revenue declined 2.9% to $159.6m, while distributable income grew to $94.03m and distribu per unit rose 0.7% to 2.71 cents.