KUALA LUMPUR: CapitaLand Malaysia Trust (CLMT) posted a higher net profit of RM45.81 million in the first quarter ended March 31, 2026 (1Q 2026) from RM37.49 million recorded in the same period last year.
Revenue rose to RM127.38 million from RM120.37 million last year, it said in a filing with Bursa Malaysia.
The better topline performance was mainly due to higher revenue contributed by the East Coast Mall and Sungei Wang Plaza, as well as contributions from logistics and industrial assets acquired in 2025, namely Synergy Logistics Hub, Senai Airport City Facilities and Iskandar Puteri Facilities, it said.
CLMT said its distributable income increased by RM8.5 million or 22.7 per cent compared to 1Q 2025 due to the aforementioned factors, while net property income for 1Q 2026 of RM80.4 million rose by 14.7 per cent against 1Q 2025.
Meanwhile, it said finance costs for 1Q 2026 of RM23.9 million was slightly lower than 1Q 2025.
The interest savings arising from repayment of borrowings using proceeds from the equity fund raising exercise in 3Q 2025, interest rate refixing done during the financial year of 2025 (FY2025), and the overnight policy rate cut in July 2025 have more than offset the effect of additional borrowings drawn down for the acquisition of new assets in FY2025.
Amidst the ongoing disruptions in the global landscape, the manager of CLMT, CapitaLand Malaysia REIT Management Sdn Bhd maintains a disciplined approach in managing cost efficiencies and adopts a proactive stance in portfolio and asset management to mitigate market challenges.
The manager said that while there are targeted asset management plans, including asset enhancement initiatives to future-proof assets, it will adopt a prudent approach to capital expenditure requirements to minimise income disruption.
On the inorganic front, CLMT maintains a disciplined acquisition approach, focusing on yield-accretive opportunities, with financial discipline.
The enlarged CLMT portfolio is more resilient with additional income stability to deliver sustainable distributions to unitholders, it added. – BERNAMA
