The interior of Funan, a property of the future CapitaLand Integrated Commercial Trust. (Photo: REITsWeek)

Singapore-listed retail giant, CapitaLand Mall Trust (CMT), saw some SGD26 million (USD19 million) in net institutional fund outflow last week, amid downgrades to its credit metrics.

CMT is Singapore’s oldest, and largest REIT by market capitalisation.

Unitholders of the REIT approved a plan to merge with CapitaLand Commercial Trust (CCT) at an EGM on 29 September, paving the way for the formation of CapitaLand Integrated Commercial Trust (CICT).

Related: Unitholders approve formation of CapitaLand Integrated Commercial Trust

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.