CapitaMall Trust's DPU up 5.1% to 2.86 cents

CapitaMall Trust's ongoing asset enhancement works for Bukit Panjang Plaza, Tampines Mall and IMM Building (pictured) are progressing smoothly, said Mr Wilson Tan, CEO of the trust's manager. -- PHOTO: ST FILE
CapitaMall Trust's ongoing asset enhancement works for Bukit Panjang Plaza, Tampines Mall and IMM Building (pictured) are progressing smoothly, said Mr Wilson Tan, CEO of the trust's manager. -- PHOTO: ST FILE

SINGAPORE - Mainboard-listed CapitaMall Trust (CMT) announced on Friday that it saw a 5.1 per cent increase in its distribution per unit (DPU) to 2.86 cents for the fourth quarter ended Dec 31, 2014, from 2.72 cents for the same period in 2013.

This brings CMT's DPU for financial year 2014 to 10.84 cents, a 5.6 per cent increase over the DPU of 10.27 cents for the full year 2013.

Distributable income for FY 2014 rose 5.4 per cent to $375.3 million for 2014.

Based on CMT's closing price of $2.21 per unit on January 22, 2015, the distribution yield is 5.14 per cent. Unitholders can expect to receive their DPU for the fourth quarter on February 27.

Said Mr Danny Teoh, chairman of CapitaMall Trust Management Limited (CMTML): "As our malls are located near transportation hubs and large population catchment areas, they enjoy a high level of shopper traffic and are therefore well-positioned to sustain their performances through economic cycles.

"We are confident that CMT's scale and strong retailer network will put us in good stead to continually create value for our unitholders."

Mr Wilson Tan, CEO of CMTML, said, "Our portfolio of malls continued to enjoy high occupancy of 98.8 per cent as at Dec 31, 2014. For the quarter under review, we continued to reinvent and make our malls relevant."

"Bukit Panjang Plaza completed the food and beverage (F&B) block and Level 2 opened with additional dining options, including popular choices such as Suki-ya, Eighteen Chefs and Siam Kitchen. In addition, we have created additional space in Sembawang Shopping Centre for a childcare centre."

"Reconfiguration works at Block A in Clarke Quay are also underway to introduce new F&B and entertainment concepts. as we continue to reinforce Clarke Quay's attractiveness as a vibrant place to visit. Our ongoing asset enhancement works for Bukit Panjang Plaza, Tampines Mall and IMM Building are progressing smoothly."