Outlook for CMMT remains challenging

KUALA LUMPUR: The outlook for CapitaLand Malaysia Mall Trust remains challenging due to the worsening impact of the Covid-19 pandemic in the Klang Valley, although there are expectations of a recovery in the fourth quarter of the year.

Kenanga Research noted that the real estate investment trust's (REIT) 1HFY21 realised distributable income of RM18.2mil came within its forecast at 45% of its full-year projection but was only 26% of consensus full-year estimate due to weaker-than-expected top-line.