-- CapitaLand Malaysia Trust (CLMT) announced a distributable income of RM35.1 million for the period 1 July 2025 to 30 September 2025 (3Q 2025), representing a 14.0% increase over RM30.7 million recorded in the corresponding quarter last year. Distribution per unit (DPU) for 3Q 2025 grew 3.7% year-on-year (y-o-y) to 1.11 sen. As previously announced on 23 July 2025, an advanced distribution of 0.47 sen per unit for the period from 1 July 2025 to 6 August 2025 was paid to Unitholders on 19 August 2025[1].
CapitaLand Malaysia Trust reported another stellar quarter, driven by higher revenue from retail properties and rental income contribution from Glenmarie Distribution Centre and the newly acquired Iskandar Puteri Facilities (pictured above).
Summary of CLMT’s results
Net property income (NPI) for 3Q 2025 rose 11.5% y-o-y to RM69.1 million, primarily driven by higher revenue across the majority of its retail properties and rental income contribution from two of its logistics and industrial properties — Glenmarie Distribution Centre and the newly acquired Iskandar Puteri Facilities.
CLMT’s retail portfolio continues to demonstrate resilience, with most properties achieving higher revenue in 3Q 2025. This was supported by positive rental reversions and rent step-ups. Retail occupancy strengthened to 93.5%[2] with positive reversions of 10.9%[3], reflecting our proactive lease and asset management strategies. Asset enhancement initiatives at Gurney Plaza and 3 Damansara have successfully elevated these properties, driving stronger leasing momentum and enriching the customer experience. In addition, a new 63,000 sq ft active lifestyle offering at The Mines featuring an interactive mix of sports, games and adventure activities, including a 14,000 sq ft water park, is slated to open by 1Q 2026.”
Ms Yong Su-Lin, CEO of CapitaLand Malaysia REIT Management Sdn. Bhd. (CMRM), the manager of CLMT
“We continued to grow our logistics and industrial portfolio, successfully completing the accretive acquisitions of fully-leased industrial properties at Senai Airport City and Nusajaya Tech Park, Johor. These assets provide stable income, underpinned by a long weighted average lease expiry of approximately 7.5 years and 5.2 years[4] respectively. We also secured a key lease renewal at Valdor Logistics Hub, achieving a positive reversion of 20.8%. In addition, CLMT has obtained beneficial ownership of Synergy Logistics Hub[5] on 26 September 2025 in Selangor. These acquisitions have increased our industrial and logistics assets under management (AUM) from 4.2% to 7.9% of our total portfolio AUM and are expected to further enhance CLMT’s income resilience in 2026. Building on this momentum, we aim to grow our logistics and industrial segment to 20% of CLMT’s total portfolio AUM by 2028, further diversifying our asset mix.”
“Maintaining a healthy balance sheet remains a priority, ensuring we can respond swiftly to opportunities amid an evolving market environment. We will continue to manage our capital structure prudently and pursue growth opportunities with financial discipline,” added Ms Yong.
Proactive portfolio management
As at 30 September 2025, CLMT’s retail occupancy was 93.5%. Including its five fully-leased logistics and industrial properties, the overall portfolio occupancy stood at 94.7%. CLMT’s portfolio registered positive rental reversions of 11.2% for YTD 2025. Shopper traffic decreased slightly by 1.0% y-o-y, while tenant sales per square foot declined 0.8% y-o-y.
Prudent capital management
On 8 August 2025, CLMT completed the private placement exercise that raised total gross cash proceeds of approximately RM250.0 million to repay existing bank borrowings and lower its aggregate leverage from 43.0% to 39.8%. This was in line with its prudent capital management strategy to increase financial headroom for future growth opportunities and enhance its balance sheet flexibility.
As at 30 September 2025, CLMT maintained a well-spread debt maturity profile with an average term to maturity of 4.1 years. Its year-to-date average cost of debt was 4.36%. 84% of its total borrowings are on fixed interest rates to mitigate exposure to interest rate movements.
Sustainability initiatives
CLMT continues to demonstrate leadership in environmental, social and governance (ESG) practices. In the 2025 GRESB Real Estate Assessment, a global ESG benchmark for the real estate sector, CLMT achieved its first 4-star rating, improving from 3 stars in the previous year. CLMT also received an ‘A’ rating for Public Disclosure, reflecting its strong transparency and ESG reporting standards. With the improved GRESB performance, CLMT will benefit from interest rate savings on its sustainability-linked loans tied to GRESB performance.
As part of its ongoing commitments to greening its portfolio, Glenmarie Distribution Centre was awarded the LEED (Leadership in Energy and Environmental Design) Gold certification by the U.S. Green Building Council (USGBC) in October 2025, marking a milestone in CLMT’s sustainability journey.
Footnotes:
1. As CLMT’s DPU is paid out on a half yearly basis, Unitholders can expect to receive the DPU for the period from 7 August 2025 to 30 September 2025 by March 2026.
2. As at 30 September 2025.
3. From 1 January to 30 September 2025.
4. By gross rental income.
