SINGAPORE - Shopping mall landlord CapitaLand Mall Trust (CMT) announced on Friday (Jan 22) a 0.7 per cent increase in its distribution per unit (DPU) to 2.88 Singapore cents for the fourth quarter ended Dec 31, from 2.86 cents for the year-ago period.

Distributable income for the quarter rose 2.8 per cent to S$101.9 million as the trust recognised a gain of S$72.7 million from the sale of Rivervale Mall in December.

Gross revenue for the quarter was S$180.4 million, an increase of S$15.2 million or 9.2 per cent from a year ago. Bedok Mall which was acquired on Oct 1 accounted for S$14.3 million of the increase, while the other malls accounted for S$2.8 million increase mainly due to higher rental achieved on new and renewed leases and staggered rental. This was partially offset by the decrease in gross revenue of S$1.9 million from JCube due to lower occupancy.

For the full-year, DPU increased by 3.8 per cent to 11.25 cents from 10.84 cents a year ago.

As at end-Dec, CMT's portfolio occupancy stood at 97.6 per cent.

Its current portfolio comprises 16 shopping malls - Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM

Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, a 40 per cent stake in Raffles City, Lot One Shoppers' Mall, 90 out of 91 strata lots in Bukit Panjang Plaza, The Atrium@Orchard, Clarke Quay, Bugis+, a 30 per cent stake in Westgate and Bedok Mall.