CapitaLand Mall Trust (C38U)

As at 2020 Second Quarter Financial Results (22 July 2020)

CapitaLand Mall Trust (CMT) is the first REIT in Singapore, listed on Jul 2002. It is also the largest retail REIT in Singapore with ownership/interest in 15 properties, which are strategically located in the suburban areas and downtown core of Singapore, worth S$7.2 billion as at 30 Jun 2020.

Gross rental income
(by sector)
Percentage
Food & Beverage31.1%
Beauty & Health11.7%
Fashion11.0%
Department Store5.8%
Office5.4%
Leisure & Entertainment /
Music & Video
4.8%
Gifts & Souvenirs /
Toys & Hobbies /
Books & Stationery /
Sporting Goods
4.8%
Services4.2%
Supermarket3.6%
Shoes & Bags3.5%
IT & Telecommunications3.5%
Home Furnishing3.0%
Electrical & Electronics2.2%
Jewellery & Watches2.1%
Education1.4%
Warehouse1.4%
Others0.5%
Gross rental income
(by geographical location)
Percentage
Singapore100%

Metrics2Q 20201Q 2020
Gearing Ratio
(Aggregate Leverage)
34.4%33.3%
Weighted Average Debt to Maturity
(Average Term to Maturity)
4.5 years4.7 years
Average Cost of Debt (p.a.)3.1%3.2%
Occupancy Rate97.7%98.5%
Weighted Average Lease Expiry
(by GRI)
2.0 years2.2 years
Top 10 tenants
(gross rental income)
22.1%(as at
31 Dec 19)
Top tenant
(gross rental income)
3.2%(as at
31 Dec 19)

2Q 20202Q 20191H 20201H 2019
MetricsS$ milS$ milS$ milS$ mil
Gross Revenue114.1189.5318.4382.3
Property operating
expenses
(46.0)(56.4)(102.0)(109.0)
Net Property Income68.1133.2216.4273.3
Distributable Income78.1107.7109.7214.0
DPU2.11c2.92c2.96c5.80c

PORTFOLIO

SINGAPORE

PropertyNPI (%)Occupancy
2Q 2020
Occupancy
1Q 2020
Cap rate
Tampines Mall1099.199.64.70
Junction 8899.5100.04.70
Funan999.299.34.85 (R)
3.90 (O)
IMM Building1198.299.46.20 (R)
7.00 (W)
Plaza Singapura1299.399.94.40
Bugis Junction1098.798.84.70
JCube95.494.84.85
Raffles City Singapore97.698.54.70 (R)
3.95 (O)
4.75 (H)
Lot One Shoppers’ Mall597.698.44.70
Bukit Panjang Plaza95.494.84.80
The Atrium@Orchard897.498.54.65 (R)
3.75 (O)
Clarke Quay492.395.94.85
Bugis+499.8100.05.20
Bedok Mall796.998.94.60
Westgate998.898.84.50

For Cap rate, (R) = Retail, (O) = Office, (W) = Warehouse, (H) = Hotel

NPI % of JCube and Bukit Panjang Plaza together is 5%

Raffles City Singapore is a joint venture whereby CMT has 40.0% interest in.

PropertyValuation
($m) Jun-20
Valuation
($m) Dec-19
Leasehold
expiry
Tampines Mall1,072.01,085.01 Sep 2091
Junction 8794.0799.01 Sep 2090
Funan742.0775.012 Dec 2078
IMM Building660.0675.023 Jan 2049
Plaza Singapura1,300.01,349.0Freehold
Bugis Junction1,087.01,106.010 Sep 2089
JCube276.0288.01 Mar 2090
Raffles City Singapore
(40%)
1,306.41,353.616 Jul 2078
Lot One Shoppers’ Mall531.0537.01 Dec 2092
Bukit Panjang Plaza324.0330.01 Dec 2093
The Atrium@Orchard740.0764.015 Aug 2107
Clarke Quay394.0414.013 Jan 2089
Bugis+353.0357.030 Sep 2065
Bedok Mall779.0794.021 Nov 2110
Westgate1,087.01,131.029 Aug 2110

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