KUALA LUMPUR (Oct 21): CapitaLand Malaysia Trust (KL:CLMT) reported a 14.9% increase in third-quarter net property income (NPI), driven by higher rental income amid better contribution from most of its properties.

NPI for the three months ended Sept 30, 2026 (3QFY2026) rose to RM79.4 million from RM69.1 million a year earlier, CLMT's bourse filing on Wednesday showed.

Gross revenue rose 9.1% to RM126.54 million from RM116.04 million in 3QFY2025, thanks to higher revenue from most of its existing portfolio due to positive rental revisions, rental step-ups, and contributions from industrial and logistics assets acquired in 2025.

Distributable income jumped 32.2% to RM46.33 million from RM35.05 million, the trust said. It declared a distribution per unit (DPU) of 1.35 sen, up 21.6% from 1.11 sen in 3QFY2025. This brings the total DPU to date to four sen, up 12% from 3.57 sen a year earlier.

For the first nine months of FY2026, CLMT's NPI rose 14.06% to RM237.18 million from RM207.94 million in the previous corresponding period, while gross revenue increased 7.05% to RM376.98 million from RM352.14 million.

CapitaLand Malaysia REIT Management Sdn Bhd chief executive officer Yong Su-Lin said CLMT continued to deliver a stable performance in 3QFY2026, underpinned by healthy demand across its diversified portfolio.

“Our retail portfolio achieved positive rental reversions of 11.3%, while committed occupancy remained healthy,” Yong said in a statement.

“Our expansion into industrial and logistics has enhanced the diversification and resilience of our portfolio. The properties acquired in 2025 are contributing to our performance and have expanded our presence in key industrial and logistics hubs, including Penang and Johor,” she said.  

“With a strong balance sheet, we remain well positioned to pursue accretive growth opportunities while continuing to optimise our existing portfolio,” Yong added.

CLMT’s retail occupancy remained stable at 93.1% as at end-September 2026. Including its logistics and industrial properties, the overall portfolio occupancy stood at 94.3%.

Year to date, its average cost of debt stood at 4.17% while gearing ratio was 38.3%. Of its total borrowings, 75% are on fixed interest rates.

CLMT’s total borrowings stood at RM2.13 billion as at end-September, while cash and cash equivalents amounted to RM50.37 million.

The trust’s portfolio comprises 11 properties, including Gurney Plaza, Queensbay Mall, East Coast Mall, Sungei Wang Plaza, 3 Damansara, The Mines and several industrial and logistics assets.

CLMT units closed at 56 sen on Wednesday for a gain of 1.5 sen or 2.75%, giving the trust a market capitalisation of RM1.92 billion. Year to date, the trust has fallen nearly 12%.