CMT's Q3 DPU drops, asset management fees rise

Singapore

RETAIL landlord CapitaLand Mall Trust (CMT) will be renovating the main entrance and interior of the Raffles City Singapore mall for about S$54 million, it said on Friday after its distribution per unit (DPU) for the third quarter took a tumble despite higher net property income.

The real estate investment trust posted a DPU of 2.78 Singapore cents for the quarter, a 6.7 per cent drop from 2.98 Singapore cents in the corresponding period the preceding year, it said in a Singapore Exchange filing on Friday evening. The fall in its DPU came as Q3 distributable income slid 4.7 per cent to S$98.4 million from the preceding year.