CapitaLand Mall Trust's Q1 DPU down 70.5%

Singapore

CAPITALAND Mall Trust (CMT) has entered cash-conservation mode amid the volatility of Covid-19, leading to a 70.5 per cent fall in distribution per unit (DPU) to 0.85 cent for the first quarter ended March.

Gross revenue for the quarter inched up 6 per cent to S$204.3 million, and net property income was up 5.9 per cent to S$148.3 million. The growth arose from the June 2019 opening of Funan Mall, which contributed S$15.8 million to total gross revenue. But this was offset by the amortisation of rental rebates granted to tenants affected by Covid-19.