Mapletree Industrial Trust’s DPU up 5.4%

Mapletree Industrial Trust (MIT) has reported a 5.4 per cent increase in its distribution per unit (DPU) to 2.16 Singapore cents for the third quarter ended 31 December.

The higher DPU is due to higher rental income which lifted the trust’s net property income by 25 percent to S$45.6 million.

Its chief executive officer, Mr Tham Kuo Wei, said in a statement: “MIT continued to deliver strong performance in 3QFY2011, which was largely attributed to higher portfolio occupancy and positive rental revisions for the flatted factories, stack-up/ramp-up buildings and warehouse.”

He added that the trust has also planned two asset enhancement initiatives, which will add about 200,000 square feet of gross floor area to the portfolio.

MIT was listed in the Singapore Exchange on 21 October 2010. It is a unit of Mapletree Investments – the property arm of investment firm Temasek Holdings.

Source : Channel NewsAsia – 26 Jan 2012

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