CLMT’s Quarterly DPU Falls 8.4% on Higher Utility and Interest Costs
April 27, 2023 – The manager of CapitaLand Malaysia Trust (CLMT) announced a net property income of RM39.2 million (US$8.8 million) for the quarter ended March 31, 2023 (Q1 2023), up 8.8% from the same period a year ago. The increase was largely driven by higher revenue contribution from most of CLMT’s properties, supported by a sustained recovery in retail sentiment, and contributions from Valdor Logistics Hub and the newly acquired Queensbay Mall, according to a press statement.
However, distributable income for the quarter was RM19.8 million, a decrease of 3.1% from the same period a year ago, mainly due to higher utilities and interest costs. Distribution per unit (DPU) for Q1 2023 was 0.87 sen.
