CapitaMall Trust posts 6.3% rise in Q2 distribution per unit

Shops in the revamped Bugis Junction. -- PHOTO: BUGIS JUNCTION
Shops in the revamped Bugis Junction. -- PHOTO: BUGIS JUNCTION

SINGAPORE - CapitaMall Trust (CMT) will pay 2.69 cents in distributions per unit for its second quarter ended June 30, a 6.3 per cent increase from a year ago, the retail property trust's manager said on Wednesday.

This comes as CMT's distributable income rose 6.5 per cent in the quarter from last year to $93.4 million, while its revenue climbed 2.5 per cent to $164.3 million.

CMT's portfolio of 16 malls was 98.6 per cent occupied as at June 30, and its asset enhancement works for Bugis Junction, Tampines Mall and IMM Building are "progressing well", said Mr Wilson Tan, chief executive of CapitaMall Trust Management.

The trust plans to start asset enhancement works for Bukit Panjang Plaza in the third quarter. This will involve creating a new two-storey food and beverage block on Level 2, which now hosts a roof garden, and relocating the roof garden to Level 4 beside the expanded public library and a new childcare centre.

CMT unitholders can expect to receive their second-quarter distributions on Aug 29. The books closure date is Aug 1.

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