Capitaland posts higher 2Q net profit of RM35.07mil
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
5 days ago
- The Star
Chaebol trio of Samsung, Hyundai, Hanwha aligns with Seoul in united push on US tariffs
SEOUL: As South Korea and the United States reached an agreement on tariffs on Wednesday (July 30), attention is turning to the behind-the-scenes role of South Korea's top business tycoons, who acted as de facto special envoys in the critical final days of negotiations. Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Chung Euisun, and Hanwha Group Vice Chairman Kim Dong-kwan all made high-profile visits to the US this week, lending their corporate firepower to support Seoul's diplomatic efforts to ease steep tariffs on Korean exports, especially in the auto, semiconductor and shipbuilding sectors. ALSO READ: Trump says trade deal agreed with South Korea at 15% tariff rate overnment officials confirmed that the trio actively engaged with key figures in the US administration to underline Korea's commitment to long-term investment in the US, bolstering Seoul's credibility at the negotiation table. 'Private companies have significant networks in the US, and in this case, they helped communicate the importance of the negotiations from a business perspective,' said Kim Yong-beom, policy chief at Seoul's presidential office. Hyundai's high-stakes auto diplomacy Chung Euisun's visit follows Hyundai's US$21 billion investment pledge announced in March at the White House, which includes a steel plant in Louisiana and expanded EV production at its Georgia facility. Despite the announcement being months old, the visit appears strategically timed to reinforce Hyundai's local production narrative just days before Washington's tariff deadline. 'Hyundai will be producing steel in America and making its cars in America,' said US President Donald Trump in March. 'As a result, they will not have to pay any tariffs.' Nevertheless, Hyundai and Kia have suffered under the 25 per cent tariff regime on imported autos since April. Chung's presence in the US, just ahead of the Friday deadline, aims to strengthen Korea's push for a more favourable deal — seeking a rate of 15 per cent, similar to Japan's negotiated outcome. Samsung pushes chip diplomacy Lee Jae-yong, who departed for the US on Monday, has taken a more indirect approach. Samsung is currently building a $37 billion foundry complex in Austin, Texas, one of the largest semiconductor investments on US soil. The tech giant also recently signed a $16.5 billion chip supply agreement with Tesla for vehicle semiconductors, adding momentum to the bilateral high-tech partnership. Although Lee's trip lacked public fanfare, officials say his presence sent a strong signal about South Korea's long-term alignment with US priorities in chip manufacturing and supply chain security. Hanwha anchors shipbuilding strategy Kim Dong-kwan, the youngest of the three tycoons, has emerged as a key figure in leveraging South Korea's shipbuilding capacity to offset tariff pressure. Hanwha Ocean's acquisition of Philly Shipyard in December, paired with proposals for additional investments, tech transfers, and local training programmes, forms the backbone of the South Korean government's 'Make American Shipbuilding Great Again (MASGA)' initiative, introduced during a meeting with US Commerce Secretary Howard Lutnick. Hanwha's pitch reportedly includes the possibility of acquiring more US-based shipyards, aligning with Trump's domestic job creation agenda. Industry experts believe these moves could significantly strengthen Korea's case to lower the current 25 percent tariffs to below 15 percent. 'Acquiring shipyards and expanding local production demonstrates a sincere commitment to US economic interests,' said Kim De-jong, a business professor at Sejong University. 'Such gestures carry real weight in trade talks with the Trump administration.' A coordinated push All three chaebol leaders arrived in the US within days of each other, ahead of Friday's original tariff deadline, forming a powerful unofficial delegation alongside top Korean officials including Finance Minister Koo Yoon-cheol and Industry Minister Kim Jung-kwan. Their presence formed a coordinated public-private front in South Korea's economic diplomacy. The chaebol leaders' diplomatic interventions are being hailed by South Korean observers as a pivotal factor in tilting the talks in Seoul's favour — reasoning that in modern trade diplomacy, capital and credibility go hand in hand. - The Korea Herald/ANN
The Sun
5 days ago
- The Sun
Samsung profits drop 55% as US chip export curbs hit China sales
SEOUL: South Korean tech giant Samsung Electronics reported a sharp 55% drop in second-quarter operating profits, citing US export restrictions on AI chips to China as a major factor. The company posted 4.7 trillion won ($3.4 billion) in operating profit for April-June, down from 10.4 trillion won a year earlier. Net profit also fell 48% to 5.1 trillion won, according to regulatory filings. 'Earnings for the Foundry Business remained weak due to inventory adjustments from US export curbs,' Samsung said in a statement. The company acknowledged challenges but expressed optimism about AI-driven demand in the second half of 2025. Despite the downturn, Samsung highlighted two positive developments: a $16.5 billion deal with Tesla to supply AI6 chips until 2033 and the legal clearance of chairman Lee Jae-yong. Analysts see the Tesla agreement as crucial for Samsung's competitiveness against rivals like TSMC and SK hynix. 'AI demand is expected to remain robust,' Samsung said, pointing to sustained investments by cloud service providers. The firm plans to ramp up production and improve profitability through expanded sales to key clients. - AFP
![[UPDATED] Samsung's Q2 earnings hit by US curbs, profit down 55pct](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fsml%253B%253Bm%253Bc_1753922524.jpg&w=3840&q=100)
![[UPDATED] Samsung's Q2 earnings hit by US curbs, profit down 55pct](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
5 days ago
- New Straits Times
[UPDATED] Samsung's Q2 earnings hit by US curbs, profit down 55pct
SEOUL: South Korean tech giant Samsung Electronics' operating profit dropped by more than 50 per cent year-on-year in the second quarter, its regulatory filing showed Thursday, as US curbs on AI chip exports to China hit sales. The company reported an operating profit of 4.7 trillion won (US$3.4 billion) for the April-June period, marking a 55 per cent decline from a year earlier, according to the filing. The company's net profit came in at 5.1 trillion won, marking a 48 per cent year-on-year decline, the filing showed. "Despite significant growth in revenue from the first quarter, earnings for the Foundry Business remained weak due to the impact of inventory value adjustments that stemmed from US export restrictions on advanced AI chips to China," Samsung said in a press release. Going into the second half of the year its foundry business will "ramp up mass production", the company said, adding it will strive to "improve factory utilisation and profitability through expanded sales to major customers". "AI demand is expected to remain robust due to continued investments by major cloud service providers, and therefore server demand for both DRAM and NAND is expected to stay strong," Samsung said, referring to processing chips and chips used for data storage. Samsung Electronics is the flagship unit of South Korea's Samsung Group, by far the largest of the family-run conglomerates that dominate Asia's fourth-largest economy. The disappointing earnings report comes on the heels of two positive developments: the end of legal jeopardy for its chairman Lee Jae-yong and a multi-billion-dollar deal with Tesla. Lee was accused of stock price rigging, breach of trust and accounting fraud by prosecutors but his acquittal was upheld by the country's highest court earlier this month, ending a years-long legal drama at the tech titan. It also follows Samsung's signing of a US$16.5 billion deal with Tesla under which it will provide the electric car maker with AI6 chips through the end of 2033. The agreement is expected to provide a major boost to Samsung, which has faced headwinds in its foundry business, lagging rivals SK hynix and Taiwan's TSMC in the race for cutting-edge artificial intelligence chips. The deal, which represents 7.6 per cent of the firm's 2024 sales, is a "critical step" toward widening its place in the fast-changing AI chips market, MS Hwang, research director at Counterpoint, told AFP. The deal will be "bolstering the company's customer portfolio -- a critical step for wider customer reference", he said.
