CMMT to explore asset classes beyond the retail sector

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PETALING JAYA: Capitaland Malaysia Mall Trust (CMMT) will expand its investment by exploring other asset classes beyond the retail sector, including commercial, office and industrial asset classes.

In a statement, CMMT manager, CapitaLand Malaysia Mall Trust REIT Management Sdn Bhd (CMRM), said more than 350 unitholders voted at CMMT’s EGM held online yesterday, with 100% of the vote cast. in favor of the extension of the investment mandate.

The extension of the mandate will include, but not be limited to, business parks, logistics facilities, warehouses, distribution centers, data centers and integrated developments.

Therefore, the names of CMMT and the manager will be changed to CapitaLand Malaysia Trust and CapitaLand Malaysia REIT Management Sdn Bhd after obtaining the respective approvals from the competent authority and the shareholders of the manager.

In a statement, CMMT manager, CapitaLand Malaysia Mall Trust REIT Management Sdn Bhd (CMRM), said more than 350 unitholders voted at CMMT's EGM held online yesterday, with 100% of the vote cast. in favor of the extension of the investment mandate.In a statement, CMMT manager, CapitaLand Malaysia Mall Trust REIT Management Sdn Bhd (CMRM), said more than 350 unitholders voted at CMMT’s EGM held online yesterday, with 100% of the vote cast. in favor of the extension of the investment mandate.

After the necessary regulatory approvals, the extension of the investment mandate is expected to be completed by the third quarter of 2021.

“CMMT will be better positioned for growth by leveraging CapitaLand’s expertise and gaining exposure to broader asset classes. This will enhance the manager’s ability to provide sustainable distributions and total returns to long-term unitholders, ”said CMRM President Lui Chong Chee.

Managing Director Low Peck Chen (pictured) said the move would allow investing in a full range of income-producing assets to diversify CMMT’s revenue streams and build a diversified portfolio by industry.

“A geographically and sector-diversified portfolio will benefit CMMT in the long term as it improves the resilience of its portfolio and is less sensitive to unprecedented adverse events and unforeseeable external events and factors.

“We will continue to strengthen the performance of the existing portfolio while pursuing inorganic growth through acquisitions of properties in existing and new asset classes, with financial discipline.

“We will also explore the opportunities of our sponsor CapitaLand and third parties,” Low said.


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