KUALA LUMPUR: Capitaland Malaysia Trust
(CLMT) continued to gain momentum in the first quarter ended March 31, 2025 (1QFY25), leading to a 7.6% year-on-year increase in distribution per unit to 1.28 sen per unit.
In the quarter under review, CLMT said net profit came to RM37.49mil, an increase from RM33.49mil in the year-ago quarter on revenue of RM120.38mil, up from RM111.88mil previously.
Earnings per unit rose to 1.3 sen from 1.22 sen in the previous corresponding quarter.
CapitaLand Malaysia REIT Management Sdn Bhd CEO Yong Su-Lin said net property income during the quarter was up 9.6% year-on-year (y-o-y) to RM70.1mil, driven by higher revenue across most of its properties.
She attributed the stronger operating performance to healthy rental reversions for its retail properties as well as income contribution from the fully occupied Glenmarie Distribution Centre following the completion of its asset enhancement initiative.
"Looking ahead, we will continue to intensify efforts to attract exciting new tenants and deliver a well-curated tenant
mix across our retail portfolio,” she added.
Yong added that the acquisition of three industrial properties in Senai Airport City is expected to contribute positively to CLMT's earnings upon completion in 2H25.
CLMT's retail occupancy as at March 31, 2025, remained stable at 91.8%. Including its two fully leased logistics properties, the overall portfolio occupancy stood at 92.6%.
CLMT’s retail properties registered positive rental reversions of 12.4% for 1Q 2025, higher than the 11.3% for FY24.
Shopper traffic increased by 0.1% y-o-y, while tenant sales per sq ft grew 5.3% y-o-y.
