CapitaLand Malaysia Trust’s net profit for the third quarter ended 30 Sept 2026 rose to RM47.02 million from RM34.69 million in the same quarter a year earlier, the trust said in a filing with Bursa Malaysia (NST reported).
Revenue climbed 9.1 per cent to RM126.54 million from RM116.04 million, lifted by positive rental reversions, rental step-ups at most of its properties and contributions from industrial and logistics assets acquired in 2025, The Edge Malaysia noted.
Property operating expenses rose by RM200,000, or 0.4 per cent, to RM47.1 million. The trust traced the increase to higher utilities expenses after the automatic fuel adjustment tariff moved from a subsidy rate to a surcharge rate, along with a larger provision for doubtful debts.
Net property income rose 14.9 per cent to RM79.4 million from RM69.1 million. Distributable income increased 32.2 per cent to RM46.33 million from RM35.05 million, and distribution per unit rose 21.6 per cent to 1.35 sen from 1.11 sen.
Finance cost fell 7.9 per cent to RM22.9 million, helped by interest savings from medium-term notes refinancing completed in the second quarter of 2026 and from fixed rate loans refixed at lower rates in the first half of the year.
For the nine months to 30 Sept 2026, net profit rose to RM136.82 million from RM107.24 million, while revenue increased to RM376.98 million from RM352.14 million.
CapitaLand Malaysia REIT Management Sdn Bhd chief executive officer Yong Su-Lin said the retail portfolio recorded positive rental reversions of 11.3 per cent while committed occupancy stayed healthy.
“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.
Retail occupancy stood at 93.1 per cent at the end of September. Counting the logistics and industrial properties, portfolio occupancy stood at 94.3 per cent. Total borrowings were RM2.13 billion and cash and cash equivalents RM50.37 million, with a gearing ratio of 38.3 per cent. About 75 per cent of borrowings carry fixed interest rates, and the average cost of debt for the year to date was 4.17 per cent.
The trust’s portfolio holds 11 properties, among them Gurney Plaza and Queensbay Mall in Penang, East Coast Mall, Sungei Wang Plaza, 3 Damansara and The Mines. The assets acquired in 2025 were a logistics hub in Selangor and two industrial facilities in Johor.
On prospects, the trust said targeted asset management initiatives remain a priority to lift the value proposition and operating performance of its retail properties. The industrial and logistics portfolio is expected to further diversify income streams and strengthen portfolio resilience.
The trust said it will keep a disciplined approach to capital allocation, including pursuing value- and yield-accretive acquisition opportunities to support long-term growth. Total assets stood at RM5.6 billion as at 30 Sept 2026.
