CapitaLand Mall Trust (CMT) is the largest retail REIT in Singapore, and the first REIT to be listed on the SGX back in 2002. It currently owns 15 malls across Singapore, which is worth a total of S$10.1 billion as of 31 December 2018.

CMT is known for its remarkable financial standing and income stability. Rated ‘A2’ by Moody’s, CMT is the highest-rated REIT in Singapore. Despite this, there are a number of concerns over the REIT’s future growth, especially because its operations are limited to the Singapore market.

I attended CMT’s AGM to find out about the company’s future growth avenues and also the management team’s outlook for the local retail sector. Here are 11 things I learned from the 2019 CapitaLand Mall Trust AGM:

1. Gross revenue increased 1.5% year-on-year to S$807.6 million in 2018, while net property income (NPI) rose 2.5% to $577.3 million. This growth