CMMT says retail sector recovery is challenging

Net profit at CMMT was almost wiped out in the second quarter ended June 30 to RM192,000 compared with the RM10.15mil posted a year ago. Gross revenue fell 41% to RM49.9mil.

PETALING JAYA: Capitaland Malaysia Mall Trust (CMMT) said almost all of its tenants have resumed business, but warned that the operating environment remained challenging in the near term.

“Whilst there has been a gradual return in shopper footfall, the recovery of Malaysia’s retail sector is still uncertain as consumer sentiment remains cautious, ” CapitaLand Malaysia Mall REIT Management Sdn Bhd’s (CMRM) chairman David Wong said in a statement yesterday.