CapitaLand Malaysia Mall Trust (5180)

As at 2020 Second Quarter Financial Results (21 July 2020)

CapitaLand Malaysia Mall Trust (CMMT) is a retail REIT in Malaysia, listed on Jul 2010. It has ownership/interest in 5 properties, which are targeting the mass market demographics but shifting focus to the middle and upper-income segments as well, worth RM 4.0 billion as at 30 Jun 2020.

	Gross rental income (by sector)	Percentage
	Fashion / Accessories	30.8%
	Food & Beverage	20.4%
	Beauty / Health	12.7%
	Services	4.8%
	Departmental Store	4.8%
	Leisure & Entertainment / Sports & Fitness	7.4%
	Electronics / IT	7.1%
	Supermarket / Hypermarket	3.9%
	Gifts / Specialty / Books / Hobbies / Toys / Lifestyle	3.8%
	Houseware / Furnishings	2.6%
	Others	1.7%

Gross rental income (by geographical location)	Percentage
Malaysia	100%

Metrics	2Q 2020	1Q 2020
Gearing Ratio (Aggregate Leverage)	34.2%	34.1%
Weighted Average Debt to Maturity (Average Term to Maturity)	3.9 years	4.2 years
Average Cost of Debt (p.a.)	4.30%	4.35%
Occupancy Rate	88.3%	90.9%
Weighted Average Lease Expiry (by GRI)	1.9 years	1.9 years
Top 10 tenants (gross rental income)	14.7%	(as at 31 Dec 19)
Top tenant (gross rental income)	4.7%	(as at 31 Dec 19)

	2Q 2020	2Q 2019	1H 2020	1H 2019
Metrics	RM mil	RM mil	RM mil	RM mil
Gross Revenue	49.9	84.8	124.4	172.8
Property operating expenses	(30.5)	(34.5)	(65.7)	(69.7)
Net Property Income	19.4	50.3	58.7	103.1
Distributable Income	0.6	30.9	20.8	65.8
DPU	0.03c	1.51c	1.01c	3.22c

PORTFOLIO

MALAYSIA

Property	State	NPI (%)	Occupancy 2Q 2020	Occupancy 1Q 2020
Gurney Plaza	Penang	59.7	97.6	99.2
Sungei Wang	Kuala Lumpur	0.0	71.5	75.5
The Mines	Selangor	12.2	82.4	85.8
East Coast Mall	Pahang	22.6	94.9	99.0
3 Damansara Property	Selangor	7.9	88.3	89.0

Property	Valuation (RM m) Jun-20	Valuation (RM m) Dec-19	Leasehold expiry
Gurney Plaza	1,665.0	1,665.0	Freehold
Sungei Wang	538.0	538.0	Freehold
The Mines	715.0	715.0	20 Mar 2091
East Coast Mall	577.0	577.0	18 Dec 2106
3 Damansara Property	540.0	540.0	Freehold