CMMT records DPU of 2.00 Malaysian cents for Q2

CapitaMalls Malaysia Trust (CMMT) has recorded distribution per unit (DPU) of 2.00 Malaysian cents for the second quarter of this year from April 1 to June 30.

This is 8.1 per cent higher than the forecast DPU of 1.85 Malaysian cents for the quarter and was achieved on the back of gross revenue of S$23.2 million (RM57.2 million).

The annualised DPU of 8.02 Malaysian cents is 8.1 per cent above the forecast of 7.42 Malaysian cents, attributed mainly to savings in financing costs.

“The Malaysian economy recorded stable growth of 4.6 per cent in the first quarter of this year. For the rest of the year and the medium term, we remain optimistic on the outlook for retail sales as these will continue to be underpinned by steady domestic population and tourist arrival growths,” said Kee Teck Koon, Chairman of CapitaMalls Malaysia REIT Management Sdn. Bhd (CMRM).

CMMT achieved distributable income of RM29.8 million and net property income of RM40.8 million for the quarter.

CMMT intends to pay out its second distribution for 2011, amounting to 2.16 Malaysian cents, on August 23 for the period from March 25 to June 30.

The total distribution for the first half of 2011 therefore amounts to 3.90 Malaysian cents per unit. The book closure date for the second distribution is on July 27.

Source : Channel NewsAsia – 12 Jul 2011

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