CapitaLand Malaysia Mall Trust | Annual Report 2020

FINANCIAL POSITION The total assets for CMMT Group were RM3,999.4 million as at 31 December 2020 compared to RM4,143.8 million as at 31 December 2019. The decrease of RM144.4 million was mainly due to the fair value losses recognised for the valuations of the Klang Valley malls at the balance sheet date. Cash and cash equivalents have reduced by RM12.7 million to RM71.9million at balance sheet date due to lower gross revenue and slower collection fromAffected Tenants. Total borrowings increased by RM34.8 million to RM1,411.6 million 1 at the balance sheet date due to drawdown of revolving credit facilities to fund capital expenditure works and working capital during the financial year. For more details, please refer to the Capital Management section of CMMT’s Annual Report 2020. Unitholders’ fund for CMMT Group as at 31 December 2020 was RM2,443.9 million, a decrease of RM158.0 million from 31 December 2019 mainly attributable to the valuation loss from Investment Properties. The change in the Unitholders’ funds was mainly a result of FY 2020 profit contribution which was impacted by the valuation loss from Investment Properties. Additional CMMT units were issued during the financial year in respect of the management fees payable in units and Distribution Reinvestment Plan exercise which saw a total of 5,783,864 units being converted at the issue price of RM0.6683 per unit. VALUATIONS AND PROPERTY YIELD Valuation (RM mil) Property Yield (%) Capitalisation Rate (%) CMMT Portfolio 31 Dec 2020 31 Dec 2019 Increase/ (Decrease) FY 2020 FY 2019 31 Dec 2020 31 Dec 2019 Gurney Plaza 1,665 1,665 – 4.8 6.5 6.75 6.75 East Coast Mall 579 577 2.0 5.2 7.4 7.00 7.25 Sungei Wang Plaza 475 538 (63.0) (0.5) 0.2 7.00 7.00 3 Damansara Property 496 540 (44.0) 1.7 3.8 6.50 6.50 The Mines 680 715 (35.0) 2.5 4.1 7.00 7.00 CMMT Portfolio 3,895 4,035 (140.0) 3.4 5.0 Less: Additions (17.9) FY 2020 Net Fair Value Losses (157.9) As at 31 December 2020, the valuation for Gurney Plaza, Sungei Wang Plaza and The Mines were conducted by Nawawi Tie Leung Property Consultants Sdn. Bhd. The valuation for East Coast Mall was conducted by Savills (Malaysia) Sdn. Bhd. while the valuation for 3 Damansara and 3 Damansara Office Tower (collectively known as 3 Damansara Property) was conducted by PPC International Sdn. Bhd. 1 Before deducting unamortised transaction costs. FINANCIAL REVIEW 40 CAPITALAND MALAYSIA MALL TRUST • ANNUAL REPORT 2020