CapitaLand Malaysia Trust’s Q3 DPU up 21.6% at RM0.0135 on industrial, logistics

[SINGAPORE] CapitaLand Malaysia Trust’s (CLMT) third-quarter distribution per unit (DPU) rose 21.6 per cent year on year from RM0.0111 to RM0.0135, mainly due to contributions from industrial and logistics properties acquired in 2025.

Distributable income for the quarter rose 32.2 per cent year on year to RM46.3 million (US$11.3 million) from RM35.1 million previously, said the trust’s manager on Thursday (Oct 22).

Revenue grew 9.1 per cent to RM126.5 million from RM116 million in Q3 2025. Net property income (NPI) climbed 14.9 per cent to RM79.4 million from RM69.1 million.

Yong Su-Lin, CEO of the trust’s manager, said CLMT delivered stable performance despite a challenging macroeconomic backdrop.

“Our expansion into industrial and logistics has enhanced the diversification and resilience of our portfolio,” she added.

Positive rental reversions, rental step-ups and higher contributions from most of CLMT’s existing retail assets also led to DPU and NPI growth, said the trust’s manager.

Overall portfolio occupancy stood at 94.3 per cent as at Sep 30, with retail portfolio occupancy remaining stable at 93.1 per cent. For the first nine months of 2026, CLMT’s retail portfolio achieved a positive rental reversion of 11.3 per cent.

For the quarter, shopper traffic increased 8.2 per cent year on year, while tenant sales per square foot rose 4.5 per cent.

As at Sep 30, CLMT’s gearing ratio stood at 38.3 per cent, with a year-to-date average cost of debt of 4.17 per cent. About 75 per cent of its total borrowings are on fixed interest rates.

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“With a strong balance sheet, we remain well-positioned to pursue accretive growth opportunities while continuing to optimise our existing portfolio,” said Yong.