CapitaLand Malaysia REIT Management Sdn Bhd intends to lessen its reliance on retail segment by diversifying into industrial real estate, logistics and data centres over the next year.
Tan revealed that Capitaland would then continue to focus on the Klang Valley in order to solidify its position before moving on to secondary cities such as Penang and Johor Bahru. Meanwhile, Capitaland Malaysia Trust’s net loss narrowed to RM30.93 million in the financial year ended Dec 31, 2021 from RM84.50 million a year ago.
Utilities consumption was lower due to the various lockdowns, with a 10 per cent electricity discount for the entire FY21 versus only six months in FY20. Marketing expenses were also lower due to less mall activities and cost containment efforts, CLMT, which is managed by CapitaLand Malaysia REIT Management, said.
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