PETALING JAYA: Capitaland Malaysia Trust
(CLMT) is cautiously optimistic about its performance in 2024 and will expand its industrial and logistics portfolio and diversify income streams.
In a filing with Bursa Malaysia, CLMT said it expects the industrial sector to remain resilient, propelled by the growth of manufacturing and logistics markets as well as increased investment activities in the country.
“At the same time, the manager will proactively implement targeted asset management strategies to drive organic business growth while managing its capital structure prudently to ensure that CLMT maintains a healthy financial position.”
For the second quarter ended June 30, 2024 (2Q24), CLMT’s net profit rose to RM33.47mil from RM29.72mil in the previous corresponding period, while revenue in 2Q24 grew to RM113.65mil from RM104.76mil a year earlier.
Basic earnings per share stood at 1.18 sen versus 1.11 sen previously.
CLMT said the increase in gross revenue was mainly due to higher revenue recorded by most of the malls within CLMT’s portfolio as a result of positive rental reversions and higher occupancies.
“In addition, higher gross revenue also due to compensation income received amounting to RM3mil due to early termination of a lease contract,” it said.
