CapitaLand Malaysia Trust Gurney Plaza REITsWeek

CapitaLand Malaysia Trust (CLMT) has reported a total revaluation loss of RM41.1 million for its investment portfolio.

The revaluation loss was recorded for the 2022 financial year and it has been incorporated into REIT’s accounts as at 31 December 2022, CLMT disclosed on 19 January.

CLMT is a Malaysia-focused REIT with a portfolio of six assets across the country.

During the revaluation exercises, which have been done in consultation with various independent appraisers, four of the REIT’s assets saw falls in their value.

The REIT’s flagship asset, Gurney Plaza, saw an MYR2.6 million uplift in its valuation, while East Coast Mall rose by MYR6.5 million.

The remaining assets saw valuation falls of between MYR20.6 million and MYR787,000.

Based on the unaudited consolidated results of CLMT and its subsidiary as at 31 December 2022, the net asset value per unit will be RM1.0751 upon incorporation of the revaluation losses.

CLMT was last done on the Bursa Malaysia at MYR0.545.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.