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CapitaLand MY onboards 7 malls onto Grab as part of omnichannel push Details 12 April 2021
CapitaLand Malaysia has tied up with Grab to onboard seven malls onto the Malls by GrabMart platform. This is part of the mall s omnichannel strategy to help Malaysians adapt to the new normal amidst the COVID-19 pandemic.
The seven malls comprise Queensbay Mall in Penang, Melawati Mall in Taman Melawati, Sungei Wang Plaza in Kuala Lumpur, 3 Damansara in Petaling Jaya, The Mines in Seri Kembangan and East Coast Mall in Kuantan. More than 50 CapitaLand tenants listed on Malls by GrabMart, including MPH Bookstores, Royce Chocolate, S&J, Din Tai Fung Retail, Eureka Popcorn, Lo Hong Ka, Watsons, Starbucks Mart, and Laneige. Shoppers can mix and match their orders from different stores in the same mall and have the orders delivered and pay only one delivery fee.
(CMMT), the owner of the Mines and Sungei Wang Plaza, posted a net loss of RM84.5mil for the year ended Dec 31, 2020.
Net property income fell by a third to RM133mil, largely due rental relief given to eligible tenants and higher vacancies at its malls.
Distributable income for FY20 was RM61.8mil and distribution per unit (DPU) was three sen.
“Covid-19 has hit Malaysia’s retail sector hard and CMMT’s FY 2020 results reflected the impact of these challenges, David Wong, the chairman of Capitaland Malaysia Mall REIT Management Sdn Bhd said. Given the economic uncertainties, we expect business and consumer sentiments to remain subdued in 2021, he said in a statement today.