Mapletree revenue up 7.4% to S$1.6 billion for FY14/15

Real estate development firm Mapletree Investments has reported a 7.5 per cent increase in revenue to S$1.6 billion for the year ended Mar 31 (FY14/15), it announced on Wednesday (May 20).

Part of the increase was due to new income streams including its acquisitions during the year, higher contributions from its flagship development in Singapore – Mapletree Business City – and positive contributions from the properties of Mapletree’s four listed real estate investment trusts (REITs). These all delivered higher distributions per unit to their unitholders, said Mapletree.

Mapletree also posted Profit After Tax and Minority Interests (PATMI) of S$1 billion, which is a 14.3 per cent increase from a year ago.

According to Mapletree Group Chief Executive Officer Mr Hiew Yoon Khong, Mapletree successfully completed two development projects during the year, with another five developments coming on stream over the next four years.

Mapletree is also diversifying into new markets, and will continue to enlarge their capital management platforms, which saw them launching two Japan-focused private funds in the year, Mr Hiew said.

“Already, we are seeing the results of the disciplined approach we take to our business, with ROE (return of equity) at a strong 10.8 per cent for FY14/15, and averaging at 11.5 per cent over the last five years. Going forward, we will continue to seek quality assets overseas, in markets within Asia and beyond – such as the US, Europe and Australia – to diversify risks and sustain our growth and profitability,” said Mr Hiew.

Supporting Mapletree’s expansion is S$6.3 billion in total cash and undrawn facilities, it stated.

Source : Channel NewsAsia – 20 May 2015

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