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MAPLETREE Industrial Trust (MIT)
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dontbetray
Master |
07-May-2025 15:29
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i disagreed. i dont think you follow apple development.
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BinderyT
Elite |
07-May-2025 14:58
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I don' t disagree with you that AI-enabled DC is a good play. But if you want to invest in this, Keppel DC REIT (which owns Keppel SGP-7/8) or Digital Core REIT are better choices. JPM is correct in downgrading MINT due to its DC portfolio being obsolete. Like I already said, DC that is needed to run AI workloads are very different as they require much higher power density and cooling. Retrofitting is expensive and not always possible due to surrounding power grids and network connections. If you want to know the difference, go read up on Singtel' s upcoming Tuas DC. Or Keppel' s SGP-7/8. Note that Singtel Tuas required collaboration with SP Power to ensure that the power grid can support the building. Apple doesn' t need Mapletree. They have their own DC like the Mesa DC in Arizona. In fact, none of the hyperscalers do as they own their own.
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dontbetray
Master |
07-May-2025 14:00
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BREAKING: President Trump says an &ldquo Earth-shattering&rdquo announcement is coming. It is unclear exactly what this " Earth-shattering" announcement is pertaining to. However, Trump said " it is not about trade" and that it is going to be something " positive." We will update once announced. Follow us for real time analysis as this develops. |
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dontbetray
Master |
07-May-2025 13:46
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I know you following my back, Blunderyt
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dontbetray
Master |
07-May-2025 13:27
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guys may I have ur undivided attentions! People are underestimating Trump &mdash especially China and others &mdash thinking he' s foolish for wanting to bring industrial activity back to the U.S. But what they don&rsquo t realize is that Trump doesn&rsquo t plan to rely on American workers for these jobs. Instead, he&rsquo s counting on AI-powered robots to handle the work. The real question is: how many data centers will be needed to power the AI systems that can run industrial operations? Let&rsquo s be real &mdash the companies investing trillions in the U.S. aren&rsquo t going to rely on expensive American labor. Of course, they&rsquo ll turn to AI to cut costs. Mapletree already has available data centers, and Apple recently announced that it' s repurposing its Arizona factory to manufacture iPhones which Mapletree has available factory in Arizona . This shows the shift is already happening &mdash AI and automation will drive the new industrial wave. So again &mdash think about it: how many data centers will it take to power AI for large-scale industrial jobs? |
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BinderyT
Elite |
07-May-2025 09:29
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Like I said, go learn a little about why REITs are created and then go look at why Paragon is being delisted.
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dontbetray
Master |
07-May-2025 08:51
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Mate look at paragon and other attempted to take exercise
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BinderyT
Elite |
05-May-2025 23:20
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Dude, if you understand the business model of REITs, you won' t be talking about privatization. There is a reason why REITs are required to give out 90% of its profit as dividends by law.
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BinderyT
Elite |
05-May-2025 23:15
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DCs that are to be used to host huge AI workloads are custom designed and cannot use traditional DCs. Power density is as much as 8-10x higher and rack layouts need to accommodate AI hw stacks. These challenges go beyond just the DC to the networks and power requirements coming into it. At the moment, entire parks are being designed to accommodate these new AI DCs. Good example - https://www.costar.com/article/573467529/nations-first-stargate-data-center-in-west-texas-is-already-in-expansion-mode
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dontbetray
Master |
05-May-2025 19:52
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Hopefully they can privatjaed
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chengwh1
Elite |
05-May-2025 19:52
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Appreciated your input, gentlemen,... But it looks to me like these US DCs are starting to give problems as each one' s tenancy becomes due,... and further to this,... MINT is also thinking of acquiring the remaining 50% of the data centres from the sponsor, I think the name is Mapletree Rosewood, Inc,... This is worrrying. Secondly,... the data centres are,... I suspect, not so ' AI-ready' ,... judging from the things read and heard,....... |
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Goldfinger
Supreme |
05-May-2025 17:35
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This is one of those stable REITS which I expect to pay me and my kid (upon bequest) dividends for a long long long time. | ||||
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dontbetray
Master |
05-May-2025 17:17
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Ah Cheng that supposed catalyst ended up a burdensome bcz Japan increased rate n no plan to cut focus on new catalyst 1. Apple looking for Arizona factory to build phone. MINT has facilities. 2. Trump mandate A.I. n identify 13 states which MINT has available reit for A.I. data room I got a reply from MINT investor relationship The White House&rsquo s policy announcements in the areas of Energy, DEI, Education, Agriculture and International Relations seemed to have a domestic impact. At the moment, details on Department of Energy&rsquo s identification of federal sites for data centre and AI infrastructure development are limited. It may be a positive development as it would help the advancement of AI and clean energy, which could support the demand for data centre space. Thank you. Regards, CHENG Mui Lian Investor Relations and Sustainability Mapletree Industrial Trust Management Ltd. DID: +65 6377 4536
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chengwh1
Elite |
05-May-2025 13:26
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Yeah bro,... thank you. Is there any proforma values on how much will the final completion of Osaka fitting-out works contribute the dpu accretion ?
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PiRPiR
Master |
05-May-2025 13:19
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11:09 PM EDT, 05/04/2025 (MT Newswires) -- Mapletree Industrial Trust (SGX:ME8U) completed the final phase of fitting-out works at a data center in Osaka, Japan, according to a filing with the Singapore Exchange on Friday.
The trust had acquired the data center in 2023 and the fitting out was carried over four phases. The trust's portfolio comprises 13 data centers. |
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luckyguy3
Master |
04-May-2025 18:33
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BinderyT ( Date: 04-May-2025 15:42) Posted:
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https://seekingalpha.com/article/4781369-mapletree-industrial-trust-mapif-q4-2024-earnings-call-transcript
chengwh1 ( Date: 03-May-2025 13:16) Posted:
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Mapletree Industrial Trust stays defensive, resilient amid global uncertainties
DBS Group Research maintains &lsquo buy&rsquo call with target price of S$2.60
[SINGAPORE] Mapletree Industrial Trust (MIT) will adopt a more defensive leasing strategy and continue to rebalance its portfolio through divestments amid the current macroeconomic uncertainties, said the manager of the real estate investment trust (Reit) on Friday (May 2).
&ldquo One word to describe (the global economic outlook) is &lsquo uncertain&rsquo ,&rdquo said Ler Lily, chief executive officer of MIT&rsquo s manager.
She noted that many economies, including Singapore, are adjusting their growth outlooks. The risk of higher operating costs as well as elevated foreign costs will continue to exert pressure, she added.
&ldquo This is something we need to ride through and deal with,&rdquo Ler said.
In the face of the trade tariffs and political tensions, she said that the Reit is going to be more defensive in terms of its leasing strategy. She also noted the need to be more nimble and flexible.
Operationally, MIT will focus on improving occupancy for both Singapore and US portfolios, which can hopefully enhance cash flow.
The Reit&rsquo s efforts to rebalance its portfolios through divestments will continue, she added. This will strengthen its financial flexibility and provide more headroom for it to make meaningful acquisitions to ensure sustainable growth.
&ldquo I would say we do have our challenges ahead of us, but our portfolio is diversified, and we do have (a) relatively strong balance sheet, so we do hope that this can feed us through this uncertain time,&rdquo said Ler.
For the full year ended March, MIT&rsquo s distribution per unit (DPU) for FY2025 was up 1 per cent at S$0.1357, from S$0.1343 the previous year.
The manager attributed the DPU growth to new contributions from the Reit&rsquo s Osaka data centre and its newly acquired mixed-use facility in Tokyo, which was completed last September.
Revenue rose by 2.1 per cent to S$711.8 million, and net property income (NPI) went up by 2 per cent to S$531.5 million.
Besides contributions from the facilities in Osaka and Tokyo, increases in NPI were also attributed to new leases and renewals across various sectors in Singapore property clusters.
However, this was partially offset by higher property maintenance and marketing costs, and non-renewal of leases in its North American portfolio.
The divestment of the Tanglin Halt cluster also incurred a loss in income, which offset the NPI growth.
Borrowing costs slipped 1.4 per cent to S$105.1 million for the financial year, from S$106.6 million the year before. This was due to repayment of loans with proceeds from the Tanglin Halt divestment, as well as lower interest on unhedged floating rate loans.
For its operational front, the manager reported positive rental reversion across all property segments in Singapore, with a weighted average rental reversion rate of about 8.1 per cent in the final quarter of FY2025.
However, MIT has been one of the worst performers on the Straits Times Index so far this year.
Year to date, it has generated total returns of negative 7.6 per cent, compared with the Straits Times Index, which has returned a total of 3.3 per cent.
This share price weakness, however, is &ldquo unjustified&rdquo , said DBS Group Research analysts Derek Tan and Dale Lai in a Friday report.
The research house is maintaining its &ldquo buy&rdquo call on the Reit with a target price of S$2.60. MIT&rsquo s DPU of S$0.1357 is also in line with their estimates.
The way the analysts see it, MIT has actively managed the portfolio, and has successfully renewed or back-filled about 70 per cent of lease expiries over the past two years. This, they said, also demonstrates the continued relevance of MIT&rsquo s assets to enterprise needs.
Furthermore, they are positive that the new contributions from Japan, select US assets, and leasing momentum at Hi-Tech Park @ Kallang could provide upside surprises to their estimates.
These could help offset the expected churn in occupancy rates in the US, which could happen due to non-renewal of selected leases in the upcoming quarters.
Potential divestments to optimise and rebalance the portfolio could also help to manage overall risk, and redeploy the proceeds to other uses.
Recently, the divestment of a data centre in Georgia, US, for US$11.8 million was announced. When the sale is completed in the second quarter of 2025, the Reit can redeploy capital into other growth opportunities.
While MIT&rsquo s share price has declined 9 per cent year to date, DBS still sees investors gravitating towards the Reit &ndash especially with the uncertain economic conditions.
&ldquo Its diversified portfolio has demonstrated resilience through past downturns,&rdquo the analysts said.