Mapletree Industrial Trust posts 2.7% rise in 1Q DPU to 3 cents

Mapletree Industrial Trust posts 2.7% rise in 1Q DPU to 3 cents

The manager of Mapletree Industrial Trust (MIT) has announced a distribution per unit of 3 cents for the 1Q ended June, 2.7% higher than its 1Q18 DPU of 2.92 cents a year ago.

Net property income for the quarter rose 1.9 per cent to S$69.5 million from a year ago.

In a media statement, it said the wider economy and business sentiments of small and medium enterprises in Singapore “remain robust”.

“However, looming uncertainties stemming from heightened global political and trade tensions continue to threaten the projected growth momentum. Furthermore, the continuing supply of competing industrial space is exerting pressure on both occupancy and rental rates,” it said.

Going forward, MIT’s manager says it will continue to focus on tenant retention to maintain a stable portfolio occupancy in the face of looming geopolitical uncertainties and the continuing supply of competing industrial space.

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