CMT’s FY17 Results In Line; Near-Term Weakness Expected With Funan Underpinning Medium-Term Growth
CapitaLand Mall Trust’s, or CMT’s, full-year 2017 results were in line with expectations. Net property income declined by 0.3% year over year to SGD 478.2 million on the back of a 1.1% year-over-year decline on revenue to SGD 682.5 million. Distribution per unit increased by 0.3% year over year to SGD 0.1116 per unit. As expected, the trust posted a negative rental reversion of 1.7%, largely due to the reposition and change of trade mix at Westgate, Bedok Mall, and Tampines Mall, as well as the ...
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