KUALA LUMPUR: Capitaland Malaysia Mall Trust
(CMMT), the owner of the Mines and Sungei Wang Plaza, posted a net loss of RM84.5mil for the year ended Dec 31, 2020.
Net property income fell by a third to RM133mil, largely due rental relief given to eligible tenants and higher vacancies at its malls.
Distributable income for FY20 was RM61.8mil and distribution per unit (DPU) was three sen.
“Covid-19 has hit Malaysia’s retail sector hard and CMMT’s FY 2020 results reflected the impact of these challenges," David Wong, the chairman of Capitaland Malaysia Mall REIT Management Sdn Bhd said.
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