Unit Price Performance
Global financial markets began the year 2011 on an even keel but knuckled under increasingly widespread concerns over the global economic health in the second half of the year. The last few months of the year were hogged by gloomy news emanating from the Eurozone and a mixed outlook for the United States' economy.
CMT's unit price closed lower by 12.8% at S$1.70 on 30 December 2011, compared to S$1.95 at the beginning of the year, as it softened in line with the broader market's weakness in the second half of the year. Nonetheless, CMT outperformed the Straits Times Index (STI) as investors took shelter under defensive stocks amidst the growing uncertainty in the global economy. The STI ended the year 17.0% lower while the FTSE ST Real Estate Investment Trust (FTSE ST REIT) Index declined by 16.0% year-on-year.
In November 2011, CMT issued 139,665,000 new units through a private placement which brought its total number of units in issue to approximately 3.3 billion. As at 31 December 2011, CMT's market capitalisation registered S$5.7 billion - the highest among real estate investment trusts in Singapore. The stock's trading volume in 2011 reached 1.7 billion units, translating to an average daily trading volume of approximately 6.7 million units.
