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Thursday, October 22, 2020 – 8:45 am
CAPITALAND Mall Trust’s (CMT) unit distribution rose 1.3 percent to Singapore’s 3.1 cents for its third quarter ended Sept. 30, from 3.06 cents a year ago.
The distribution for the third quarter of 2020 included the release of S $ 36.4 million, or about 78 percent of the S $ 46.4 million of taxable income available for distribution retained in the first half of 2020. In In the third quarter of 2019, the CMT had released S $ 1.5 million of its taxable income available for withheld distribution in the first half of 2019.
For the third quarter of this year, CMT’s gross revenue fell 25.3 percent to S $ 150.3 million, from S $ 201.1 million a year earlier.
This was primarily due to lower gross rental income derived from S $ 29.5 million rental exemptions granted to tenants affected by Covid-19, as well as lower gross billing and other income, the manager said Thursday.
Net property income (NPI) fell 27.6 percent on the year to S $ 104.4 million for the quarter, from S $ 144.2 million.
Distributable income increased 1.2 percent year-on-year to S $ 114.3 million from S $ 113 million.
Unitholders can expect to receive the distribution on November 19, after the close of the books on October 20.
Units of CMT closed at S $ 1.91 on Wednesday, down S $ 0.01 or 0.5%.
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