Capital land Malaysia mall trust(CMMT)

Background
CapitaLand Malaysia Mall Trust ("CMMT"), was established with the objective of investing in a
portfolio of income-producing real estate primarily used for retail purposes and located primarily
in Malaysia. Its portfolio of assets comprises five shopping malls and a complementary office
block which are strategically located in five urban centres across Malaysia. The five assets are
Gurney Plaza in Penang; three in Klang Valley - a majority interest in Sungei Wang Plaza in
Kuala Lumpur, Tropicana City Mall and Tropicana City Office Tower in Petaling Jaya; and The
Mines; and East Coast Mall in Kuantan. The portfolio has a total net lettable area of over 3.1
million square feet and is valued at about RM4.1 billion.
CMMT is managed by CapitaLand Malaysia Mall REIT Management Sdn. Bhd. (formerly known
as CapitaMalls Malaysia REIT Management Sdn. Bhd.) (the Manager) - a joint venture between
CapitaLand Limited, one of Asias largest real estate companies headquartered and listed in
Singapore, and Malaysian Industrial Development Finance Berhad (MIDF). AmTrustee Berhad
("the Trustee") is the trustee for CMMT.
The Manager of CapitaLand Malaysia Mall Trust ("CMMT"), CapitaLand Malaysia Mall REIT
Management Sdn. Bhd. (formerly known as CapitaMalls Malaysia REIT Management Sdn.
Bhd.), is 70.00% owned by CapitaLand Retail RECM Pte. Ltd. and 30.00% owned by Malaysian
Industrial Development Finance Berhad. CapitaLand Retail RECM Pte. Ltd. is a wholly owned
subsidiary of CapitaLand Mall Asia Limited, one of the largest shopping mall developers, owners
and managers in Asia by total property value of assets and geographic reach. CapitaLand Mall
Asia is a wholly-owned subsidiary of CapitaLand, one of Asia's largest real estate companies
headquartered and listed in Singapore.
Gurney plaza

Gurney Plaza is located along Gurney Drive in Penang, a popular destination for both tourists
and locals. It is the premier lifestyle shopping mall in Penang and is connected to G Hotel, a
modern concept designer hotel.
Sungai wang plaza property

Sungei Wang Plaza is one of Malaysia's pioneer shopping malls located in Kuala Lumpur's
central business district, also known as the "Golden Triangle". It is a popular shopping mall in
Kuala Lumpur, enjoying heavy shopper traffic in the area and is well-known for its specialty
stores offering shoppers a wide range of products and services.
The Mines

The Mines is located in Selangor's Mines Resort City and is a "family-focused" shopping mall
which provides shoppers with a complete offering of retail, entertainment and dining options.
The Mines is well known for a Venetian-like canal running through the shopping mall.

Liquidity Ratio

A)Current Ratio
The current ratio is a market profitability ratio that measures whether or not a firm has enough
resources to pay its debts over the next 12 months. It compares a firm's current assets to
its current liabilities. It is expressed as follows:

The current ratio is an indication of a firm's market liquidity and ability to meet creditor's
demands. Acceptable current ratios vary from industry to industry and are generally between 1.5
and 2 for healthy businesses. If a company's current ratio is in this range, then it generally
indicates good short-term financial strength. If current liabilities exceed current assets (the
current ratio is below 1), then the company may have problems meeting its short-term
obligations. If the current ratio is too high, then the company may not be efficiently using its
current assets or its short-term financing facilities. This may also indicate problems in working
capital management.
Low values for the current or quick ratios (values less than 1) indicate that a firm may have
difficulty meeting current obligations. Low values, however, do not indicate a critical problem. If
an organization has good long-term prospects, it may be able to borrow against those prospects
to meet current obligations. Some types of businesses usually operate with a current ratio less
than one. For example, if inventory turns over much more rapidly than the accounts payable
become due, then the current ratio will be less than one. This can allow a firm to operate with a
low current ratio.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months,
would consider a high current ratio to be better than a low current ratio, because a high current
ratio means that the company is more likely to meet its liabilities which fall due in the next 12
months. You should view the relation between the operation cycle period and the current ratio.