CapitaLand Malaysia Trust's 2Q net property income rises 12.5%, declares 1.29 sen DPU

KUALA LUMPUR (July 27): CapitaLand Malaysia Trust (KL:CLMT) reported a 12.5% year-on-year increase in its second-quarter net property income (NPI), driven by stronger performance across its existing properties, coupled with lower property expenses.

For the quarter ended June 30, 2026 (2QFY2026), NPI rose to RM77.4 million from RM68.7 million a year earlier, while gross revenue grew 6.3% to RM123.1 million from RM115.7 million.

Distributable income jumped 25.6% to RM43.4 million from RM34.6 million, its bourse filing on Monday showed.

CLMT declared a distribution per unit (DPU) of 1.29 sen for the quarter under review, bringing the total DPU for the first half ended June 30, 2026 (1HFY2026) to 2.65 sen, up 7.7% from 2.46 sen a year earlier, payable by September.

The trust said its manager, CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), has elected to apply the distribution reinvestment plan to the 1H2026 distribution, allowing unitholders to receive their distribution fully in cash or reinvest part of it in new units.

The book closure and distribution payment dates will be announced after the necessary regulatory approvals are obtained, it added.

For 1HFY2026, CLMT's NPI rose 13.6% to RM157.8 million from RM138.8 million a year earlier, while gross revenue increased 6.1% to RM250.4 million from RM236.1 million.

In a separate statement, CMRM chief executive officer Yong Su-Lin said CLMT delivered a strong performance in the first half of 2026, supported by resilient demand across its diversified portfolio and proactive asset management strategies.

Despite a challenging macroeconomic environment, active leasing and tenant engagement efforts helped the real estate investment trust maintain a portfolio occupancy rate of 94.4% and achieve positive retail rental reversions, she said.

Yong said CLMT will continue to enhance its portfolio by expanding its lifestyle, grocery, and food and beverage offerings at selected malls to better meet changing consumer preferences. The initiatives are expected to boost shopper traffic and improve tenant sales.

She said CLMT will adopt a prudent approach to portfolio rejuvenation amid continued global uncertainty.

CLMT's units settled unchanged at 61 sen on Monday, giving the trust a market capitalisation of RM2.05 billion.

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