CapitaLand Mall Trust fends off competition with mall renovations

It is revamping Bukit Panjang Plaza and Raffles City.

CapitaLand Mall Trust's asset enhancement initiative (AEI) couldn't be more timely as the company tries to keep up with its competitors.

According to RHB analyst Vijay Natarajan, the trust recently launched AEI works on Bukit Panjang Plaza, which includes replacing the skylight and upgrading escalators.

"We believe the AEI is timely, in light of the increasing competition from the newly-opened Hillion Mall in the vicinity, and should help improve shopper traffic," the analyst said.

Meanwhile, he noted that the group's AEI works on Raffles City is progressing well. The renovation works are expected to be completed during the first quarter of 2018.