CMT's 2018 Results in Line; DPU Continues to Grow; Westgate and Funan Underpin Near-Term Growth
CapitaLand Mall Trust’s full-year results were in line with expectations. Net property income increased 3.2% year over year to SGD 493.5 million on the back of a 2.2% year-over-year increase in revenue to SGD 697.5 million. Distribution per unit increased 3% year over year to SGD 0.115. Average rental reversion was stable for 2018 at 0.7%, led by Atrium@Orchard, Clarke Quay, and Plaza Singapura, while negative rental reversions were seen in five malls, mainly from Raffles City, JCube, and Bukit ...CapitaLand Mall Trust is a real estate investment trust. Co. owns and invests in assets, which are used, or predominantly used, for retail purposes primarily in Singapore. Co.'s portfolio is comprised of 16 shopping centers, which include Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, Hougang Plaza, Lot One Shoppers' Mall, Bukit Panjang Plaza, Rivervale Mall, The Atrium@Orchard, Clarke Quay, Iluma, and Raffles City Singapore. All of Co.'s shopping centers are located in Singapore.
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