, Singapore

CapitaLand Mall Trust's NPI up 13.1% to $558.22m in 2019

The acquisition of Infinity Mall Trust was its main revenue driver.

CapitaLand Mall Trust’s (CMT) net property income (NPI) jumped 13.1% YoY to $558.22m in FY2019 from $493.55m in the previous year, an announcement revealed.

Distributable income also rose 7.5% YoY to $441.60m from $410.7m in FY2018. Distribution per unit (DPU) in FY2019 was at 11.97 cents, which is 4.1% YoY higher than the 11.50 cents in the previous year.

Gross revenue edged up 12.8% YoY to $786.74m over the same period, due to a boost from the acquisition of 70% of the units in Infinity Mall Trust last November 2018. Westgate also contributed $74.9m and Funan accounted for $28.5m of the total gross revenue. This was partially offset by lower gross revenue from the divestment of Sembawang Shopping Centre last June 2018.

Excluding Westgate, Funan and SSC’s gross revenues were higher in FY2019 than in FY2018, mainly due to higher gross rental and other income.

On a quarterly basis, CMT’s NPI grew 13.1% YoY to $140.7m in Q4 2019 from $124.4m in 2018. Distributable income inched up 6% YoY to $114.6m over the same period, whilst DPU hit 3.11 cents.

Also read: CapitaLand Mall Trust NPI up 17.6% to $144.2m in Q3

The firm’s annualised distribution yield for Q4 2019 was 4.76% and its average cost of debt by end-2019 was 3.2%. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


C&W Services transforms headquarters into a ‘living lab’
The new office is set to be the ground for the firm’s new facilities management technologies.
How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.

Event News

Event News