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CMT's Q3 DPU unchanged at 2.78 Singapore cents

CAPITALAND Mall Trust (CMT), Singapore's oldest real estate investment trust (Reit), said its distribution per unit was unchanged at 2.78 Singapore cents for the third quarter ended Sept 30, 2017 from the year-ago period.

That came as Q3 distributable income to unit holders inched up 0.3 per cent to S$98.7 million from the year-ago period.

For the three months ended Sept 30, gross revenue dipped 0.2 per cent to S$169.4 million from the previous year - mainly due to lower rental achieved for Bedok Mall, Plaza Singapura and Junction 8.

Property operating expenses for Q3 FY2017 fell S$2.1 million or 4.2 per cent to S$48.0 million - largely because of lower property tax and utilities expenses.

Net property income rose 1.6 per cent to S$121.4 million.

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Management fees rose 2.1 per cent to S$11.4 million.

The counter closed one Singapore cent lower at S$2.04 on Friday. CMT released its results after the stockmarket closed.

The books closure date for the Q3 payout will be on Oct 30.

Unitholders will receive their distributions on Nov 29.

CMT's property portfolio includes Tampines Mall, Junction 8, Bugis Junction, Clarke Quay, Plaza Singapore, The Atrium@Orchard and Raffles City Singapore.

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