Mapletree Log Q1 DPU at 1.5 cents

Mapletree Logistics Trust says its distribution to unit holders for the first quarter is 1.5 cents per unit, up 2 per cent from a year earlier.

Total amount distributable for the three months ended March rose 7.8 per cent to S$30.8 million.

Meanwhile, net property income edged up 0.9 per cent to S$45.8 million.

The trust’s manager says the improvement is largely due to lower property expenses and decrease in borrowing costs.

It says while the economic environment has shown signs of improvement, this is not across the board for the regions in which MapletreeLog operates.

It also notes that sentiments remain cautious.

Going forward, the manager says it will continue to focus on optimising yield from its portfolio and making yield accretive acquisitions.

Source : Channel NewsAsia – 21 Apr 2010

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