Latest news with #GlenmarieDistributionCentre
The Star
23-07-2025
- Business
- The Star
CapitaLand completes book-building to raise RM250mil
CLMT's new units are expected to list on Aug 8, 2025. PETALING JAYA: Capitaland Malaysia Trust (CLMT) has completed its accelerated book-building exercise to raise about RM250mil in gross proceeds from a private placement of 409.8 million units at an issue price of 61 sen per unit. According to filing with Bursa Malaysia, the issue represents a discount of about 6.9% to the five-day volume weighted average price (VWAP) of units up to and including July 22, 2025, of 65.49 sen. Taking into account the income distribution of 2.46 sen for the period of Jan 1 to June 30, 2025, and the advanced income distribution of 0.47 sen for July 1 to Aug 6, 2025, the issue price is a discount of about 2.5% to the adjusted five-day VWAP up to and including July 22, 2025, of 62.56 sen. CapitaLand Malaysia REIT Management Sdn Bhd said in a separate statement the private placement was 'well oversubscribed, attracting strong participation from new and existing unitholders, including institutional investors and accredited investors'. A majority of the private placement new units were allocated to long-only investors. The proceeds will primarily be used to repay existing bank borrowings incurred for the acquisitions of nine industrial and logistics assets, including the completed acquisitions of the Valdor Logistics Hub and Glenmarie Distribution Centre. 'The placement is part of the manager's prudent capital management strategy to optimise CLMT's financing structure, enhance balance sheet flexibility and create additional headroom for future growth opportunities. 'The issuance of new placement units will increase the number of units in circulation, thereby enhancing CLMT's trading liquidity,' said the REIT manager. CLMT's new units are expected to list on Aug 8, 2025. For the second quarter of financial year ended June 30, 2025, CLMT's net profit rose to RM35.07mil from RM33.47mil in the previous corresponding period, while revenue grew to RM115.73mil from RM113.65mil a year earlier. CLMT said the increase in gross revenue was mainly due to higher revenue recorded by most of the properties within its portfolio as a result of positive rental reversions, rental step-up and the commencement of rental income recognition from Glenmarie Distribution Centre and Senai Airport City Facilities effective January and June 2025 respectively.
New Straits Times
21-07-2025
- Business
- New Straits Times
Capitaland posts higher 2Q net profit of RM35.07mil
KUALA LUMPUR: CapitaLand Malaysia Trust's (CLMT) net profit rose to RM35.07 million in the second quarter ended June 30, 2025 (2Q 2025), compared to RM33.47 million in the previous corresponding quarter. In a filing with Bursa Malaysia today, CLMT posted a higher 2Q 2025 revenue of RM115.73 million, increasing from RM113.65 million previously. It attributed the higher revenue to better performance recorded by most properties within CLMT's portfolio as a result of positive rental reversions, rental step-ups, and the commencement of rental income recognition from the Glenmarie Distribution Centre and Senai Airport City Facilities effective January and June 2025, respectively. For the first half (1H) ended June 30, 2025, CLMT's net profit jumped to RM72.55 million from RM66.96 million in the previous corresponding period, while revenue also improved to RM236.11 million from RM225.54 million. "CLMT remains focused on driving value through targeted asset management initiatives while pursuing opportunities to acquire yield-accretive assets. "Income resilience is expected to improve upon the completion of three ongoing industrial and logistics acquisitions in 2H 2025," it said. Meanwhile, CLMT said the proposed placement to raise RM250 million is expected to be completed in the third quarter of this year and will further strengthen its balance sheet, providing greater financial flexibility to capitalise on emerging market opportunities. "The proceeds will primarily be used to repay the existing bank borrowings incurred for the acquisitions of nine industrial and logistics assets. This includes the completed acquisitions of the Valdor Logistics Hub and Glenmarie Distribution Centre, which are already contributing to income," it said. In a separate statement, CapitaLand Malaysia REIT Management Sdn Bhd (CMRM) chief executive officer and CLMT manager Yong Su-Lin said the group continues to elevate the appeal of its portfolio with family-oriented lifestyle offerings at 3 Damansara and The Mines, catering to evolving shopper preferences and strengthening the tenant mix. "With these additions, shoppers will be able to enjoy a more wholesome experience at our malls, and we are confident that our tenants can also benefit from the increase in footfall and sales," she said. On the industrial and logistics front, Yong said, alongside the acquisition of three industrial properties in Senai Airport City in Johor, the group expects the acquisition of three industrial properties at Nusajaya Tech Park in Iskandar Johor and a modern automated logistics facility in Selangor to contribute positively to CLMT's earnings in 2H 2025 upon completion. CLMT has proposed the first income distribution of 2.46 sen per CLMT unit for the period from Jan 1, 2025, to June 30, 2025.
