05
CapitaLand Mall Trust
Annual Report 2015
Message to Unitholders
Left
Danny Teoh Leong Kay
Chairman
Right
Tan Wee Yan, Wilson
Chief Executive Officer
“
“
Distribution per unit to
Unitholders increased 3.8% to
11.25 cents in 2015. With our
established track record in
proactive asset management,
we are well-placed to continually
create value for our Unitholders.
Dear Unitholders,
We are pleased to report that CapitaLand Mall Trust
(CMT) delivered a set of good financial results and
continued to increase our distribution to Unitholders
amidst a difficult operating environment. Distribution
per unit (DPU) for 2015 was 11.25 cents, 3.8% higher
than the DPU of 10.84 cents for 2014. This translated
to a distribution yield of 5.8% based on CMT’s closing
price of S$1.930 per unit on 31 December 2015 –
approximately 320 basis points higher than the yield
for the 10-year Singapore Government bond.
For the financial year ended 31 December 2015,
CMT achieved gross revenue and net property income
(NPI) of S$669.0 million and S$466.2 million, increases
of 1.5% and 4.0% respectively over the preceding
year. Our share of gross revenue and NPI in our
joint ventures (Raffles City Singapore and Westgate)
registered growth of 2.5% and 5.4% year-on-year to
S$118.2 million and S$86.1 million respectively.
CMT’s continuing success is attributed to our quality
portfolio of predominantly necessity shopping malls
and strong partnership with our extensive network
of retailers, catering to a wide range of shoppers in
Singapore. By staying relevant and attractive to our
shoppers and tenants, our malls bring together the
best of lifestyle offerings and exciting engagement
programmes that fulfil the aspirations and needs of
our shoppers and tenants.
Our expertise in asset management, coupled with a
robust capital management approach, has enabled
us to achieve sound financial performance and
deliver steady returns through different economic
cycles. We will continue to drive sustainable
growth for our Unitholders through proactive asset
management and asset enhancement initiatives (AEI),
and explore oppor tunities for acquisitions and
greenfield developments.
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
