The company posted a Q3 2020 distributable income of S$114.3M and distribution per unit was 3.10 cents.
CapitaLand Mall Trust Management Limited (CMTML), the manager of CapitaLand Mall Trust (CMT), announced today a net property income of S$104.4M for the quarter ending September 30 2020 – Quarter 3. This was 27.6 per cent lower than Q3 2019. This was mainly due to lower gross rental income arising from rental waivers of S$29.5M, excluding rent relief provided by the Singapore Government, granted by CMT to tenants affected by Covid-19, as well as lower gross turnover and other income.
Mr Tony Tan, Chief Executive Officer of CMTML, commented: “We are encouraged by the steady recovery in the operational performance of CMT malls and the broader market since Phase 2 reopening. As at 30 September 2020, almost all of CMT’s tenants have resumed operations and portfolio occupancy remained stable at 98 per cent.
“Portfolio shopper traffic and tenants’ sales per square foot per month Q3 2020 have recovered to about 60 per cent and 89 per cent of last year’s levels respectively. Suburban malls saw tenants’ sales recovering to around 97 per cent of the level a year ago. We will continue to focus on operational recovery while staying vigilant in adhering to safe management measures.”
