CMT’s 3Q18 Results In Line; Westgate and Funan Underpin Medium-Term Growth; FVE Remains at SGD 2.40
CapitaLand Mall Trust’s, or CMT’s, third-quarter 2018 results were in line with our expectations. Net property income increased by 1.1% year over year to SGD 122.7 million on the back of a 0.7% year-over-year increase in revenue to SGD 170.5 million. Distribution per unit increased by 5% year over year to SGD 0.0292 per unit. Average rental reversion was healthy for the first three quarters of 2018 at 0.6%, led by Clarke Quay, The Atrium @ Orchard, and Junction 8, while negative rental reversion...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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