CapitaLand Commercial Trust reports 9.1% lower DPU of 2 cents for 3Q, trust scheme of arrangement effective Oct 21

The manager of CapitaLand Commercial Trust (CCT) posted distribution per unit (DPU) of 2.00 cents for 3QFY2020 ended Sept 30, 9.1% lower than the 2.20 cents reported a year ago.

See also: CapitaLand Commercial Trust files court application to sanction trust scheme; Moody's downgrades CapitaLand Mall Trust to A3

Gross revenue for 3QFY2020 fell 8.7% y-o-y to $94.7 million due to lower occupancies, asset enhancement works, lower non-rental revenue and rental waivers of some $0.9 million granted to tenants due to the Covid-19 pandemic in Singapore. In addition, CCT received no contribution from 21 Collyer Quay and Bugis Village during the quarter as the leases expired on April 30 and March 31, respectively.