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KUALA LUMPUR (Jan 29): CapitaLand Malaysia Trust (KL:CLMT) is eyeing acquisitions in Penang, Johor and the Klang Valley to expand its industrial and logistics segment, as it works towards a 20% assets under management (AUM) mix by 2028.
The industrial and logistics segment currently makes up 7.9% of CLMT’s total AUM, with the planned acquisitions expected to lift the share progressively over the next three years, said Yong Su-Lin (pictured), the chief executive officer of the REIT's manager, CapitaLand Malaysia REIT Management Sdn Bhd.
Yong said in a statement the retail-focused CLMT is gradually increasing its exposure to industrial and logistics assets as part of its portfolio diversification strategy.
As an interim milestone, CLMT expects the industrial and logistics segment to reach about 11.5% of total AUM by the first quarter of 2028, assuming completion of five industrial properties in Johor currently under development and no further acquisitions.
In December 2025, CLMT said it planned to acquire the five industrial properties from AME Elite Consortium Bhd (KL:AME) for a cash consideration of RM220.8 million.
The assets comprise five single-storey detached factories with two-storey office components, occupying about 17 acres of land and with a total built-up area of about 524,077 sq ft within AME Elite’s i-TechValley industrial park in Iskandar Puteri, Johor.
As at end-2025, CLMT’s industrial and logistics portfolio was valued at RM433 million, while total portfolio valuation stood at RM5.49 billion, with retail assets continuing to account for the bulk of the trust’s holdings.
Currently, CLMT’s industrial and logistics properties include the Valdor Logistics Hub in Penang, Glenmarie Distribution Centre and Synergy Logistics Hub, located in the Klang Valley, and Senai Airport City Facilities and Iskandar Puteri Facilities in Johor.
Retail outlook supported by Visit Malaysia Year 2026
Despite its diversification drive, Yong said CLMT is optimistic about the outlook for its retail portfolio this year, underpinned by Visit Malaysia Year 2026, with several of its malls positioned to benefit from higher tourist arrivals and improved footfall.
“We are quite optimistic on a more robust year for retail in view that it is the Visit Malaysia Year, and that we do have key outstation and Klang Valley assets positioned to capture that demand,” Yong said.
Yong noted that several of the trust’s key malls are positioned to benefit from the campaign, supported by on-ground activities planned throughout the year. These include Gurney Plaza and Queensbay Mall in Penang, alongside Sungai Wang Plaza to capture tourist traffic in the Klang Valley.
Yong added that East Coast Mall in Kuantan is also being positioned to benefit, in line with Tourism Malaysia’s focus on the East Coast of Peninsular Malaysia as part of the campaign.
The anticipated improvement in footfall is expected to support rental reversion this year, she said.
CLMT achieved a positive rental reversion of 12.2% for the financial year ended Dec 31, 2025. Its retail occupancy remained stable at 93.7%. Including its logistics and industrial properties, the overall portfolio occupancy was 94.9%.
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