CLMT hit by movement restrictions


KUALA LUMPUR: CapitaLand Malaysia Trust net profit for the third quarter ended Sept 30 plunged 89.2% to RM2.82mil from RM26.23mil a year ago, dragged by the adverse effects of the re-implementation of a nationwide movement control order in June 2021.

In a filing with Bursa Malaysia, the group said the implementation of the National Recovery Plan’s phases one and two, where most restrictions were still in place, also hurt its earnings.

Revenue fell 30.5% to RM48.68mil for the quarter compared with RM70.05mil a year ago due to lower gross rental income, higher rental relief for eligible tenants and reduced contribution from other sources.

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CLMT , CapitaLand Malaysia Trust

   

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