Capitaland Mall Trust (CMT)

CapitaLand's Funan achieves 95% committed occupancy for retail component ahead of opening

SINGAPORE (June 25): The fully revamped Funan, Singapore’s first omnichannel shopping mall, has secured 95% committed occupancy for its retail component ahead of its Friday opening, bringing the total number of brands to more than 190.

Some of the mall’s newly signed tenants include Taobao, which will provide consumers with an integrated online-and-offline shopping experience, offering a wide range of products including furniture, household items, textiles, fashion and more.

CapitaLand Mall Trust to deliver higher returns in near-term, but positives already priced in: OCBC

SINGAPORE (June 6): OCBC Investment Research is maintaining “hold” on CapitaLand Mall Trust (CMT) while raising its fair value estimate by a cent to $2.33 on the faster-than-expected ramp up of Funan.  

This comes after CMT’s manager announced the impending opening of the integrated development on June 28, two months ahead of the original scheduled date.  

CapitaLand Mall Trust upgraded to 'buy' by UOB on Jurong Lake District plans, Funan launch

SINGAPORE (May 27): CapitaLand Mall Trust will benefit from the development of Jurong Lake District (JLD) as it has three retail malls located within Jurong Gateway, says UOB KayHian.

See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income

Why investors love Singapore's struggling malls

SINGAPORE (May 7): Singaporeans aren’t spending like they used to, at least not in shopping malls. There are too many already and more are being built. But investors still have good reasons to back mall owners.

The city-state has 6.1 million sqm of retail space, of which 8.7% is vacant. Yet companies are forecast to add a further 364,000 sqm, with the biggest chunk hitting the market this year. This is when online shopping is catching on, retailers such as Crabtree and Evelyn are closing physical stores, and rents are scraping the bottom.

CapitaLand Mall Trust kept at 'hold' by OCBC and Maybank on higher mall supply, soft retail sector

SINGAPORE (Apr 26): OCBC Investment Research says CapitaLand Mall Trust’s (CMT) 1Q19 results met its expectations.

Gross revenue rose 10.0% y-o-y to $192.7 million while NPI jumped 11.5% to $140.1 million, forming 25.1% of its FY19 forecast.

See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income

CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income

SINGAPORE (Apr 24): The manager of CapitaLand Mall Trust (CMT), reported CMT has achieved a net property income (NPI) of $140.1 million for the 1Q19 ended March, an increase of 11.5% from 1Q18.

Distributable income for 1Q19 was $106.3 million, 7.4% higher than 1Q18. DPU was 2.88 cents, up 3.6% year-on-year.

CapitaLand Mall Trust Management Limited (CMTML) says the increase in gross revenue was mainly due to the completion of the acquisition of the remaining 70% stake in Westgate on Nov 1, which contributed $19.1 million to gross revenue.

5 recommendations by Maybank as the S-REIT space eases into recovery mode

SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.

S-REITs poised to ride on wings of dovish Fed

SINGAPORE (Feb 11): DBS Group Research is keeping its “overweight” rating on Singapore REITs following more dovish comments from the US Federal Reserve.

In a statement on Jan 30, the US central bank said it “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate”.

Notably, the Fed also discarded its promise of “further gradual increases” in interest rates.

Market observers say this could point to an end to its tightening cycle amid signs of slowing global growth.

A recovery in tenant sales is not enough for CapitaLand Mall Trust

SINGAPORE (Jan 24): The manager of CapitaLand Mall Trust (CMT) on Wednesday announced that its 4Q18 DPU has risen by 3.1% y-o-y to 2.99 cents, bringing FY18 DPU to 11.50 cents, 3.0% higher y-o-y.

This came on the back of 4.7% y-o-y increase in gross revenue to $180.5 million and a 4.3% y-o-y increase in net property income to $124.4 million.

See: CapitaLand Mall Trust posts 3.1% increase in 4Q DPU to 2.99 cents

CapitaLand Mall Trust posts 3.1% increase in 4Q DPU to 2.99 cents

SINGAPORE (Jan 23): The manager of CapitaLand Mall Trust (CMT) announced that its 4Q18 DPU has increased by 3.1% to 2.99 cents, compared to 2.90 cents in 4Q17.

This brings the DPU for FY18 to 11.50 cents, 3.0% higher than 11.16 cents in FY17.

Distributable income to unitholders was 5.1% higher in 4Q18 at $108.1 million from $102.9 million last year.

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