CapitaLand Malaysia Trust (CLMT) reported a strong financial performance in the first quarter of 2025, driven by improved rental income and strategic property acquisitions. The real estate investment trust saw its net property income rise by 9.6% year-on-year to RM37.5 million, while gross revenue increased by 7.6% to RM120.4 million. Distributable income also grew by 10.9%, allowing for a higher payout of 1.28 sen per unit compared to 1.19 sen in the same period last year.
Retail properties played a key role in the positive results, with occupancy rates reaching 91.8% and rental reversions climbing to 12.4%. Tenant sales per square foot increased by 5.3%, while shopper traffic saw a slight uptick of 0.1%. The Glenmarie Distribution Centre, now fully occupied following upgrades, further contributed to the improved earnings. CLMT’s overall portfolio occupancy stood at 92.6%, including its fully leased logistics assets.
The trust’s expansion into Johor’s industrial sector is expected to bolster future performance. Recent acquisitions in Senai Airport City, along with earlier investments in Nusajaya Tech Park and Elmina Business Park, are projected to enhance earnings starting in the second half of 2025. CEO Yong Su-Lin emphasized the company’s commitment to attracting high-quality tenants and optimizing its retail portfolio to sustain growth.
Looking ahead, CLMT remains focused on disciplined capital management and strategic investments to deliver long-term value to unitholders. The company’s diversified portfolio and proactive leasing strategies position it well for continued success in Malaysia’s evolving real estate market.