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MAPLETREE Industrial Trust (MIT)
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Alignment
Elite |
06-Jun-2026 21:25
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So many problems. A story of Mapletree overreach. | ||
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Joelton
Supreme |
03-Jun-2026 12:51
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Mapletree Investments FY2026 net profit rises 25.7% to S$285.6 million on lower revaluation losses The Temasek-owned property giant&rsquo s AUM stands at S$76.2 billion as at end-March [SINGAPORE] Lower revaluation losses helped pull Mapletree Investments&rsquo net profit up 25.7 per cent to S$285.6 million for the full-year ended Mar 31, 2026, from S$227.2 million in the year-ago period. The asset manager, fully owned by Singapore investment company Temasek, on Tuesday (Jun 2) said net revaluation and impairment losses narrowed from negative S$325 million in FY24/25 to negative S$153.9 million in FY25/26. China contributed to the largest share of revaluation losses. Revenue for the period was flat at about S$2.2 billion, while recurring profit after tax and minority interests improved slightly by 2.7 per cent to S$622.8 million on lower net finance costs and resilient operations. In the latest financial year, Mapletree chalked up total gross proceeds of S$4.2 billion from divestments. While fee income has grown to S$434 million in FY25/26, representing a compound annual growth rate of 22.1 per cent since 2005, Mapletree is doubling down on development for growth. &ldquo Mapletree delivered stable earnings and continued to execute its business strategy with discipline and prudence amid ongoing macroeconomic and geopolitical uncertainties,&rdquo said group chief executive officer Hiew Yoon Khong. &ldquo We accelerated the development programme of our global logistics platform across multiple markets and continued to recycle capital, syndicate assets and grow our fee-based businesses to deliver resilient earnings in FY2026,&rdquo Hiew added. The group&rsquo s assets under management (AUM) totalled S$76.2 billion as at end-March this year. Mapletree has generated an average return of about 10 per cent on invested equity over the last 20 years. More detailed returns figures are expected to be disclosed in its annual report, to be released in coming weeks. Third-party managed assets stood at S$55.7 billion as at Mar 31, 2026, accounting for 73 per cent of total AUM. This compares with FY24/25, when third-party managed assets accounted for 75 per cent, or S$60.3 billion, of total AUM (S$80.3 billion). The decline was due to strategic divestments and monetisation programmes under the group&rsquo s private funds and real estate investment trusts (Reits). In FY25/26, total equity was S$24.3 billion without new shareholder equity injections, compared with close to S$24.4 billion in FY24/25. The group manages three Singapore-listed Reits and nine private equity real estate funds. In the latest financial year, Mapletree recorded total gross proceeds of S$4.2 billion through divestments and monetisation programmes. The group&rsquo s private funds, including Mapletree US & EU Logistics Private Trust (MUSEL), Mapletree US Logistics Private Trust (MUSLOG), Mapletree Australia Commercial Private Trust (MASCOT) and Mapletree Global Student Accommodation Private Trust (MGSA), monetised more than S$2.5 billion of assets across various markets. Since June 2025, MUSEL has exited about US$1.5 billion of logistics assets in the US, delivering returns in line with its 12 per cent internal rate of return target, Mapletree said. The group&rsquo s US chief executive has previously said in an interview with The Business Times that MUSLOG has posted &ldquo strong operational performance&rdquo . Meanwhile, Mapletree is winding down the MGSA student housing fund, and has reportedly put up for sale a portfolio of Australian office property valued at AS$1.4 billion, held by its MASCOT fund. During the financial year, its three Singapore-listed Reits &ndash Mapletree Logistics Trust : M44U -1.67% (MLT), Mapletree Industrial Trust : ME8U 0% (MIT) and Mapletree Pan Asia Commercial Trust : N2IU -1.56% (MPACT) &ndash completed S$1 billion worth of divestments. MLT sold six assets across Australia, South Korea, Malaysia and Singapore, while MIT divested four properties in the US and Singapore. MPACT, meanwhile, divested three assets in Japan and Hong Kong. The group&rsquo s projects under development stood at S$5.4 billion, with logistics accounting for nearly half, or S$2.6 billion. The rest comprised office, student housing and data centre developments. Logistics remained the group&rsquo s largest asset class, accounting for 42.5 per cent of AUM, or S$32.4 billion. During the year, Mapletree acquired land sites for logistics developments and prime logistics assets, while delivering new logistics parks across Malaysia, India, Japan, China and Vietnam. In the US, Mapletree had about US$500 million of projects under development, slated for completion between H2 2026 and 2027. It also expanded its European logistics business through asset acquisitions and a ground-up development project. The group also continued to expand its office, student housing and data centre portfolios through new projects, including a massive redevelopment of its Harbourfront commercial complex into a 123,000 square metre flagship development in Singapore&rsquo s Greater Southern Waterfront. The group is now syndicating the Mapletree Emerging Growth Asia Logistics Development Fund (Mega), which focuses on logistics developments in Malaysia, Vietnam and India. The private fund, one of a series of Mapletree logistics development private funds, follows the syndication of two similar funds in China and Japan over the last few years. The Mega fund has secured commitments from investors, including a sovereign wealth fund, a pension fund and a national investment company. It is expected to achieve a first close by mid-2026, followed by a second close later in the year. Mapletree is also establishing its first renminbi fund for the China logistics portfolio and have secured local insurance companies as partners. Hiew said: &ldquo Supported by our global logistics platform &ndash particularly through development &ndash as well as proactive capital management, our continued focus on the core sectors, we remain committed to delivering resilient performance and long-term value for our stakeholders.&rdquo |
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chengwh1
Elite |
27-May-2026 12:40
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Bros,.... Things turned very badly for MIT because the data centers are not ' hyperscale-ready' ,.... But, okay,... why did the mgmt not take any earlier actions to save this situation ? Did they not see this impending situation coming ? Or perhaps they could not do anything at all ! MIT was my core holding before things turned,... earned a lot of dividends from MIT throughout the years, paid 4 times a year,..... In my books, MIT is an experience that I always mention when I build my investment thesis for investing into DC-related REITs, egs Keppel DC REIT and NTT DC REIT. Mentioned MIT at REITs-On-The-Move at NTT DC REIT last year and at Keppel DC REIT AGM this year. It' s a pity !! |
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pasttime
Supreme |
27-May-2026 07:15
Yells: "gold silver are real money. not others iou." |
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wow maybe cpib can investigate to see if there is any corrupt intent in the buy process. when us real estate company off loading they buy buy buy.
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tcshares
Senior |
26-May-2026 22:31
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manager' s performance is disappointing. Reflective of its share price. Took some loss and sold all mine! | ||
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jackass
Member |
26-May-2026 19:16
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Im sure MIT knows what they are doing ... probably they want to press down the price for Capitaland to takeover/merger later | ||
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Alignment
Elite |
26-May-2026 18:33
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MIT bought this property in 2017 for US$70m. So they have lost 80% of the acquisition price. Alamak.... |
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Joelton
Supreme |
26-May-2026 11:24
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Mapletree Industrial Trust divests Philadelphia Data Centre for US$14.5 million The manager said divestment is the most &lsquo prudent&rsquo course of action to optimise capital allocation and portfolio performance [SINGAPORE] The manager of Mapletree Industrial Trust (MIT) : ME8U 0% on Monday (May 25) announced the sale of Philadelphia Data Centre for US$14.5 million &ndash a deal entered into with DBS Trustee, as trustee of MIT, and a non-interested third-party purchaser. This comes on the back of &ldquo limited&rdquo leasing interest in the property in the current environment, since its lease expired on Dec 31, 2024, noted the trust. The manager said divestment is the most &lsquo prudent&rsquo course of action to optimise capital allocation and portfolio performance. Repositioning or redeveloping the property presents challenges including extended lead times to secure higher power capacity, on top of construction and execution risks. The price determined for the property represents a 4.3 per cent premium above the independent valuation of US$13.9 million as at Mar 31, noted a bourse filing. The building is located at 2000 Kubach Road, Philadelphia, Pennsylvania, and has two storeys with a net lettable area of about 124,190 square feet (sq ft). It sits on freehold land site of about 1.1 million sq ft. Lily Ler, chief executive officer of the manager, said the sale is part of the trust&rsquo s broader strategy to &ldquo rebalance (its) portfolio.&rdquo &ldquo Redeploying capital into markets and assets with sustainable growth potential will strengthen MIT&rsquo s portfolio and deliver sustainable returns to unitholders,&rdquo she added. The deal is expected to be completed by the third quarter of 2026. Units of MIT ended Monday 0.5 per cent or S$0.01 higher at S$1.95 before the news. |
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pasttime
Supreme |
25-May-2026 13:36
Yells: "gold silver are real money. not others iou." |
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Keep buy sell junk asset and skim new issue units to manager. Hopr they skip commission to themselves . Dou dropping and they still churn | ||
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PiRPiR
Master |
25-May-2026 13:25
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11:35 PM EDT, 05/24/2026 (MT Newswires) -- Mapletree Industrial Trust (SGX:ME8U) signed an agreement to divest a freehold data center facility in Philadelphia, US for US$14.5 million, according to a Monday filing with the Singapore Exchange.
The sale price is a 4.3% premium above the property's independent valuation of US$13.9 million, with net proceeds to be used to pare down debts and to fund working capital needs. The two-story property has a total net lettable area of 124,190 square feet. The proposed divestment is expected to conclude during the third quarter of the year. |
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Joelton
Supreme |
12-May-2026 09:42
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Mapletree buys 39-ha site in New Jersey for logistics facility, in sixth US development project The new development will be near key air cargo hubs and seaports, and comprise two warehouse buildings [SINGAPORE] Mapletree Investments has acquired a site the size of 55 football fields in New Jersey, where it is planning its largest US logistics facility to date, adding to its US portfolio of six greenfield sites currently in development. Spanning 39.1 hectares (ha), the site is near major air-cargo hubs and three of the US&rsquo busiest seaports &ndash the Port of New York and New Jersey, the Port of Philadelphia and the Port of Wilmington in Delaware. The new development, spanning 952,720 square feet (sq ft), will comprise two warehouse buildings of 300,220 sq ft and 652,500 sq ft. The site will include 366 car-parking spaces, 141 trailer-parking spaces and 172 dock doors, said the asset manager on Monday (May 11). The acquisition cost was not disclosed. The development properties are currently held under Mapletree&rsquo s balance sheet, said the group in response to queries from The Business Times. It added that it plans to have a vehicle in place for these developments eventually, with a fund being one possible structure. Chiagorom Osu, Mapletree&rsquo s head of US logistics development, said: &ldquo Central New Jersey continues to be an important logistics market, and this project builds on Mapletree&rsquo s growing development presence in the state as we continue to invest in high-conviction opportunities across the country.&rdquo The acquisition is Mapletree&rsquo s sixth greenfield project in the US since its first development, Burlington-Mount Holly Road, in December 2024. It will also be its largest logistics development project stateside. The group is expanding a seventh existing development. The group currently has about US$500 million in development projects under construction in the US, with completions expected from the second half of 2026 to Q1 2028. In an interview with BT in March, Mapletree US chief executive officer Richard Prokup said that it has &ldquo an aggressive budget&rdquo to acquire both development properties and stabilised assets in the US. In FY2026/2027, the group plans to &ldquo get back out and start acquiring again&rdquo . Growing its US footprint Mapletree owns and manages about 1.5 million sq ft of industrial assets in New Jersey and Pennsylvania. These contribute to its broader US logistics footprint, which totals more than 66 million sq ft. Three private funds hold the bulk of its US assets under the Mapletree US & EU Logistics (MUSEL) Private Trust, Mapletree US Logistics (MUSLOG) Private Trust, and Mapletree US Income Commercial (MUSIC) Trust. The New Jersey deal, slated for completion in the first quarter of 2028, follows recent industrial divestments by the group. In the year to date, Mapletree has sold US$782.5 million in US logistics assets, following divestments of US$691.1 million in 2025. In April, it sold a 1.3 million sq ft mid-shallow bay logistics portfolio &ndash comprising 19 warehouse assets in key US distribution markets &ndash to Dalfen Industrial for US$207.5 million. It sold another portfolio of 25 warehouses in the US to EQT Real Estate for US$575 million. Capital from divestments is redeployed into &ldquo strategic development opportunities&rdquo that expand the group&rsquo s national pipeline and reinforce its commitment to the US logistics sector, said Prokup. Since entering the US real estate market in 2014, Mapletree has built a diverse portfolio in logistics, data centre, office, student housing and multifamily properties. As at Mar 31, 2025, the US accounted for about a quarter of the group&rsquo s total assets under management, valued at around US$60.1 billion. |
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PiRPiR
Master |
06-May-2026 21:08
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https://thesmartinvestor.com.sg/reit-showdown-is-capitaland-ascendas-still-better-than-mapletree-industrial/
REIT Showdown: Is CapitaLand Ascendas Still Better Than Mapletree Industrial? CapitaLand Ascendas REIT and Mapletree Industrial Trust are two of Singapore?s most popular industrial REITs, but which offers the better mix of income and growth today? Wilson H.By Wilson H.May 6, 20266 Mins Read Singapore income-focused investors have long liked industrial REITs as they provide exposure to properties with long-term structural growth prospects, such as e-commerce (logistics hubs) and AI (data centres). Two familiar examples are CapitaLand Ascendas REIT (SGX: A17U), or CLAR, and Mapletree Industrial Trust (SGX: ME8U), or MIT. With an uncertain macroeconomic environment and shifts in interest rates, which REIT presents a better buy today? Let?s find out. Business Overview: How Do They Differ? CLAR has a geographically diversified portfolio, with 200 properties in Singapore, Australia, Europe, and the US. As of 31 March 2026, CLAR?s portfolio is valued at S$18.6 billion. CLAR?s portfolio has a heavy tilt towards Singapore (67% of the portfolio?s value), with the rest of the portfolio balanced across the US, Australia and Europe. The REIT?s properties belong to a variety of segments including business parks and life sciences (43% of overall portfolio value), logistics assets (26%), industrial assets (20%), and data centres (11%). Overall portfolio occupancy as of 31 March 2026 is stable at 90.5%, with a weighted average lease expiry (WALE) of 3.8 years. With a diversified tenant mix spread across 20 industries, anchored by solid blue-chips, CLAR enjoys reliable, recurring rental income. Meanwhile, MIT?s 136 properties, which have an overall value of S$8.3 billion as of 31 March 2026, are spread across North America (46.5% of portfolio value) and Singapore (46.3%). Japan accounts for the rest. It?s worth noting that MIT is currently pursuing accretive acquisitions in high-quality data centres across Europe and the Asia Pacific. Unlike CLAR, data centres comprise the majority of MIT?s portfolio (53% of overall value), with the rest comprising industrial buildings, high-tech buildings, and industrial spaces. But in a similar manner to CLAR, MIT has good occupancy at 91.2% and a healthy WALE of 4.4 years. With a wide range of blue-chip tenants anchoring its tenant profile, MIT should also be able to collect reliable, recurring rental income from its lessees. Financial Snapshot Since 2021, the CLAR?s distribution per unit (DPU) has hovered around S$0.15. The REIT?s units currently trade at S$2.52 each, translating to a trailing distribution yield of around 6%. Net property income (NPI) rose 1.7% to S$1.1 billion in 2025. Aggregate leverage for CLAR is manageable, with management expecting the figure to be at 37.3% in April 2026. The interest coverage ratio is also decent at 3.5, with a cost of debt of 3.5%, and a comfortable debt maturity profile of 2.6 years. Meanwhile, MIT?s DPU has declined from S$0.138 in FY2021/2022 to S$0.1271 in FY2025/2026. At the current unit price of S$1.97, MIT offers a trailing distribution yield of approximately 6.5%. MIT also has a strong balance sheet, with aggregate leverage of 37.5% and an interest coverage ratio of 4.0. Its borrowing cost stands at 3.2%, with an average debt tenor of 3.4 years. Growth Drivers: Where Future Upside May Come From Future growth for CLAR will come from its productive acquisition pipeline, spanning across data centres and industrial assets. Its more diversified exposure across logistics, industrial, and data centre assets makes the rental income earned by the REIT less reliant on a single sector. Conversely, MIT?s bigger exposure to data centres means its growth prospects are largely linked to the secular AI and cloud computing trends. With potentially strong rental reversions across its data centres, the REIT could see stabilisation in its NPI. Finally, MIT?s aforementioned deliberate expansion into developed markets such as Asia Pacific and Europe could further strengthen the reliability of its rental income. Dividend Strength: Stability vs Growth Since 2021, CLAR has boasted a more stable DPU compared to MIT. This could be because of the former?s diversification across multiple sectors. Both REITs should be able to continue paying distributions, given their decent balance sheets and positive rental reversions experienced. On maintaining distributions, CLAR might edge out MIT, given its wide diversification and the absence of specific challenges. Key Risks Investors Should Watch Some key risks to consider would be the potential for higher borrowing costs, which could pressure the distributions of both REITs. For more company-specific risks, MIT has higher exposure to data centres, where a slowdown in the cloud/AI growth trends could soften its operating performance. For CLAR, its more diversified exposure could result in slower growth compared to MIT. Finally, both REITs face the same challenge of integrating newly acquired properties. Valuation: Which REIT Looks More Attractive? On a trailing twelve months (TTM) basis, MIT seems to be more attractively priced, trading at a price-to-book (P/B) ratio of 1 compared to CLAR?s 1.1. Compared to their five-year historical average yields of 5.9% (MIT) and 5.4% (CLAR), both REITs currently trade at higher distribution yields, suggesting units remain attractively priced relative to historical norms. Given the small discrepancy in both the P/B ratio and distribution yields, both REITs appear to be fine choices. Get Smart: Scaling Through Diversity or Specialising for the Future In sum, both CLAR and MIT are fine industrial REITs with long-standing track records of distribution payout and growth. The choice of which is the better REIT to buy ultimately comes down to your preference and risk appetite. If you?re looking for greater diversification and stability, consider CLAR for your portfolio. However, if you?re searching for greater growth and a pure play on data centres, MIT might be suitable for you. When the market corrects, most people see a crisis. We see an opportunity to apply a system. |
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Alignment
Elite |
30-Apr-2026 10:00
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Alamak, buy in north america when economy strong, sell when US initiated trade war. Seems to be a follower rather than an anticipator of market trends | ||
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Joelton
Supreme |
30-Apr-2026 09:55
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Mapletree Industrial Trust to divest up to S$600 million of North America assets, eyes Japan and Europe for growth The divestments are expected to be carried out within the next 1 to 2 years [SINGAPORE] Mapletree Industrial Trust (MIT) plans to divest S$500 million to S$600 million of assets in North America within the next one to two years, as it steps up efforts to recycle capital into higher-quality properties and expand into new markets. &ldquo With over S$500 million divested and more divestments planned, this gives us a nice headroom for acquisitions,&rdquo said Lily Ler, CEO of the manager, at the earnings briefing on Wednesday (Apr 29). She added that MIT continues to see opportunities in data centres and is looking to grow its footprint in Japan while exploring a first entry into Europe, as it becomes more selective on the US given its substantial existing exposure. &ldquo Greater diversification and more exposure to hyperscale tenants would improve the resilience of MIT&rsquo s portfolio.&rdquo On the potential acquisition of the remaining 50 per cent stake in its portfolio of 13 data centres from its joint venture with sponsor Mapletree Investments, Ler said it would depend on whether the sponsor is willing to divest. She highlighted that the portfolio is of high quality, with more than 50 per cent hyperscale tenant exposure, which MIT would like to increase its exposure to. A &ldquo large portion&rdquo of the sale target comprises vacant or near-vacant properties, alongside selected income-producing assets with limited long-term upside, such as those with low power capacity or weaker re-leasing prospects, said Ler. San Diego, for instance, is not in &ldquo a key data centre market&rdquo , with divestment &ldquo definitely on the cards&rdquo , she added. The five-storey building, which comprises data centre and office space, was valued at US$49.2 million as at end-March 2026. Its tenant, AT& T, accounts for about 2.5 per cent of MIT&rsquo s overall portfolio by gross rental income, with the lease expiring in May 2026. Ler indicated that the trust would take a pragmatic approach to divestments, aiming to achieve at least book value but remaining open to selling below valuation if required by market conditions. For properties not seen to be contributing to portfolio income, &ldquo it&rsquo s actually better for us to just take the hard decision and divest it so we can recycle it into something that is contributing to the portfolio&rdquo , she said. MIT is in &ldquo slightly more advanced discussions&rdquo on some potential sales and expects to provide updates within the next six months. While North America remains a key focus for divestments, Ler said the trust is also reviewing its local portfolio for further opportunities, including properties with shorter remaining lease tenures such as Kallang 1 and 2, which have about five years left on their leases. Selling such assets would help preserve capital value, she said, adding that the trust is also engaging JTC to explore the possibility of tenure extensions, including by securing tenants that align with government priorities. In financial year 2026, MIT completed S$550.6 million of divestments, including the sale of the Georgia data centre for US$11.8 million at an 18.6 per cent premium over market valuation. It also sold two business park buildings and one hi-tech building in Singapore in August 2025 for S$535.3 million, at a 2.6 per cent premium over market valuation and 22.1 per cent above the original investment cost. FY2026 earnings The manager posted a distribution per unit (DPU) of S$0.0309 for its fourth quarter ended Mar 31, down 8 per cent from S$0.0336 in the year-ago period. Distributable income fell 7.9 per cent on the year to S$88.2 million in Q4. Revenue was down 7.9 per cent at S$163.8 million, and net property income declined 8.6 per cent to S$119.9 million in Q4. For FY2026, revenue fell 5.5 per cent year on year to S$673 million, and net property income was down 5.9 per cent at S$500.4 million. The weaker performance was driven mainly by the absence of income from the sale of the three Singapore assets, non-renewal of North American leases, and currency headwinds from the US dollar and yen. Distributable income was down 6.1 per cent on year at S$362.6 million and DPU fell 6.3 per cent to S$0.1271. The manager highlighted several upcoming headwinds, including the &ldquo confirmed non-renewal of leases&rdquo in its North American portfolio in FY2027, and &ldquo higher borrowing costs from the repricing of maturing interest rate swaps&rdquo . Geopolitical tensions and inflationary pressures on operating costs also remain key concerns, it added. Units of MIT were trading 3.9 per cent or S$0.08 lower at S$1.98, as at 12.43 pm on Wednesday. |
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tcshares
Senior |
30-Apr-2026 08:49
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disappointing. Recyling capital for better returns elsewhere. | ||
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Alignment
Elite |
29-Apr-2026 18:24
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The best investment opportunities in terms of SGX listed REITs is no longer the Capitaland/Mapletree stable. The momentum has turned against them. Instead many of the smaller players are the place to be. | ||
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Fataaa
Senior |
29-Apr-2026 14:17
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Mapletree should just stay in SG. Without the cornered market like SG they falter everywhere they go lol... Taking SG earning and pluck losses from overseas... Time to review the management performance with action sia... |
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PiRPiR
Master |
29-Apr-2026 14:03
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11:50 PM EDT, 04/28/2026 (MT Newswires) -- Mapletree Industrial Trust's (SGX:ME8U) distribution per unit or DPU fell 8% during the fiscal fourth quarter ended March 31 to SG$0.0309 from SG$0.0336 a year earlier, according to a Tuesday filing with the Singapore Exchange.
Shares of the trust were down over 4% in Wednesday trading. Distribution to shareholders was down 7.9% to SG$88.2 million from SG$95.8 million. Net property income fell 8.6% to SG$119.9 million from SG$131.2 million in the year-ago period. Gross revenue dropped 7.9% year over year to SG$163.8 million from SG$177.8 million. Meanwhile, average overall portfolio occupancy declined to 91.2% from 91.4% in the prior period. |
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Joelton
Supreme |
29-Apr-2026 11:40
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Mapletree Industrial Trust Q4 DPU falls 8%
Distribution per unit for FY2026 totals S$0.1271, down from S$0.1357 a year earlier
[SINGAPORE] Mapletree Industrial Trust ( MIT : ME8U +0.49%) posted a distribution per unit (DPU) of S$0.0309 for its fourth quarter ended Mar 31. This was 8 per cent lower than the DPU of S$0.0336 in the same period last year. In a bourse filing on Tuesday (Apr 28), MIT&rsquo s manager reported that revenue fell 7.9 per cent to S$163.8 million, from S$177.8 million a year earlier. The manager primarily attributed the revenue dip to an &ldquo absence of income&rdquo following divestments in its Singapore portfolio in August 2025, the non-renewal of leases in its North American portfolio, as well as the depreciation of the US dollar and Japanese yen against the Singapore dollar. These were partially offset by higher revenue from new leases and renewals in the Singapore portfolio and the completion of final fitting-out works at the Osaka Data Centre in May 2025. Net property income (NPI) for the quarter decreased 8.6 per cent to S$119.9 million. The manager noted that this occurred alongside a 5.8 per cent reduction in property operating expenses to S$43.9 million, after the Singapore divestments. Borrowing costs declined 27.4 per cent to S$18.7 million in Q4 FY2026 from a year earlier. The manager attributed this to the repayment of loans using proceeds from the Singapore divestments and lower interest on unhedged floating-rate loans. Distributable income for unitholders fell 7.9 per cent year on year to S$88.2 million in Q4 FY2026. The distribution will be paid out on Jun 12, after the record date on May 7. On a full-year basis, MIT&rsquo s DPU totalled S$0.1271, compared with S$0.1357 for the previous financial year. Revenue declined 5.5 per cent to S$673 million in FY2026, while NPI retreated 5.9 per cent to S$500.4 million. The trust&rsquo s aggregate leverage ratio fell to 34 per cent as at Mar 31, from 40.1 per cent a year earlier. The manager highlighted several upcoming headwinds, including the &ldquo confirmed non-renewal of leases&rdquo in its North American portfolio in FY2027, and &ldquo higher borrowing costs from the repricing of maturing interest rate swaps&rdquo . Geopolitical tensions and inflationary pressures on operating costs also remain key concerns, it added. The manager said it intends to pursue &ldquo selective divestments&rdquo of S$500 million to S$600 million in North America to &ldquo enhance MIT&rsquo s financial flexibility and redeploy capital into markets and assets that can provide sustainable growth&rdquo . Units of MIT closed 0.5 per cent or S$0.01 higher at S$2.06 on Tuesday, before the results. |
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JurongW
Elite |
28-Apr-2026 20:41
Yells: "Earnings give weight, Chart give wings" |
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https://links.sgx.com/1.0.0/corporate-announcements/B5K5LXJU7I2F5UP8/886485_20260428_4QFY25_Press%20Release.pdf |
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