CapitaMalls Malaysia REIT (CMMT) announced a DPU of 2.18 sen for its 1Q2013. This represents a growth if 4.3 percent as compared to the DPU of 2.09 sen for its 1Q2012. The annualised DPU of 8.84 sen represents an increase of 5.1 percent over the same period last year and translates to an annualised distribution yield of 4.7 percent based on CMMT’s closing price of RM1.87 per unit on 15 April 2013.
|CMMT remains positive about the long term prospects of Malaysia's retail sector.|
For the quarter under review, CMMT achieved distributable income of RM38.5 million, 4.6 percent higher than the RM36.8 million for 1Q2012. This was underpinned by net property income of RM51.5 million, an increase of 5.7 percent over the RM48.8 million for 1Q 2012.
Mr David Wong Chin Huat, Chairman of the Management overseeing the REIT, said, “We continue to be positive about the long-term prospects of Malaysia’s retail sector. Malaysia’s economy grew 5.6 percent last year and is forecast to expand between 5.0 percent and 6.0 percent this year, buoyed by strong domestic demand underpinned by robust investment spending and consumption demand. The macroeconomic environment augurs well for retail sales, which are forecast to grow in tandem by 6.0%3 this year. As a dedicated retail real estate investment trust, CMMT is well-positioned to benefit from this growth trend.”
Eligible CMMT Unit holders can expect to receive their DPU for 1Q2013, along with their DPU for 2Q2013, in August 2013 as the REIT maintains a twice yearly distribution policy.