Mapletree Industrial Trust Announces
Distribution Per Unit of 3.17 Cents for 3QFY25/26 . XD 4th Feb. Paydate 12 March.
Marginal quarter-on-quarter decline of 0.3% in distribution per Unit (“DPU”)
Stable operational performance driven by improvement in Overall Portfolio average
occupancy and positive rental reversions in the Singapore Portfolio
Targeting selective divestments of S$500 million to S$600 million in North America
Less than 0.1%
Gross revenue and net property income for 3QFY25/26 fell by 8.0% and 7.8% year-on-year to
S$163.1 million and S$122.8 million respectively. This primarily reflected the absence of
income from the portfolio divestment of three industrial properties in Singapore on 15 August.
Ms Ler Lily, Chief Executive Officer of the Manager, said, “Our Singapore Portfolio and Japan
Portfolio continued to provide a stable base for MIT’s performance supported by resilient
occupancies and positive rental reversions. In the near term, we remain focused on managing
the impact of downtime from non-renewal of leases in the North American Portfolio while
executing strategic divestments and acquisitions to strengthen portfolio quality and resilience.
We remain committed to achieving our divestment target of S$500 million to S$600 million in
North America. As we execute our portfolio rebalancing strategy, we may see near-term
transitional effects, which are temporary and necessary to drive sustainable returns.”
Portfolio Update for 3QFY25/26
Average Overall Portfolio occupancy was 91.4% in 3QFY25/26, marginally higher than the
previous quarter of 91.3%. This was driven by the improvement in average Singapore Portfolio
occupancy to 93.0% in 3QFY25/26 from 92.6% in 2QFY25/26. The average rental rate of the
Singapore Portfolio eased to S$2.25 per square foot per month (“psf/mth”) in 3QFY25/26 from
S$2.27 psf/mth in 2QFY25/26 following the full quarter impact of the Singapore Portfolio
Divestment. Positive rental reversions for renewal leases were achieved across all property.
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