CapitaLand Mall Trust strong and tall

My first REIT, my first stock, my first love. Yes yes yes, we're not supposed to fall in love with our stocks. 

But I can't help it. =p

Q3 results

These metrics are encouraging. I think the down cycle of the retail market is bottomming out. Tenant's sales are finally increasing y-o-y alongside the shopper traffic. Just a few quarters ago, we saw the decreasing traffic and sales in the malls.

Perhaps the haze has gotten Singaporeans to stay in the malls? 

Net property income was down 0.5% YTD September mainly due to the lower occupancy rates at JCube and Clarke Quay, coupled with the AEI works at IMM and Bukit Panjang.

Luckily, utilities costs went down, allowing DPU to increase by 5% YTD.

JCube & Clarke Quay
I'm watching closely at JCube and Clarke Quay. Management noted that Clarke Quay will be rearranged, with Zouk their potential new anchor tenants.

JCube registered a negative rental revision of 14.5%. This is probably due to the pressure from JEM. I know management is not resting on its laurels and are aggressively promoting and getting new tenants to spice up the place. Hopefully the plan works.

New and the Old
Bedok Mall's contribution should start next Quarter.

Oh, yes and they've finally disposed Rivervale Mall (which is insignificant and laggard). I'd prefer Bedok Mall over Rivervale anytime. Good move on that, and with a hefty profit on its sale too!

First love, best love. Haha!