CapitaLand Mall Trust NPI down by 27.6% to $104.4m in Q3

However, DPU was 1.3% higher over the same period.

CapitaLand Mall Trust reported a net property income of $104.4m for the quarter ended 30 September, a 27.6% drop from the same time last year, it said in a local bourse filing.

This was mainly due to lower gross rental income arising from rental waivers of $29.5m granted by CMT to tenants affected by COVID-19, as well as lower gross turnover and other income.

Distributable income for Q3 was $114.3m and distribution per unit (DPU) was 3.10 cents.

For the period 1 January to 30 September (YTD 2020), distributable income was $224m. This included the release of $36.4m or about 78% of the $46.4m of taxable income available for distribution retained in 1H 2020. DPU was 6.06 cents, 31.6% lower than the 8.86 cents for YTD Sep 2019.

Unitholders can expect to receive their DPU for Q3 on 19 November .

This comes on the heels of CMT being renamed to CapitaLand Integrated Commercial Trust in a merger by CapitaLand Commercial Trust and CMT.