- Mapletree Industrial Trust (SGX:ME8U) reported DPU of 3.39 cents for 3QFY23 (Oct-Dec 2022), a decline of 2.9% y-o-y but in line with our expectations
Growth from Singapore portfolio.
- - Read this at SGinvestors.io -
- Portfolio occupancy edged higher by 0.1ppt q-o-q to 95.7%, driven by flatted factories in Singapore (+1.3ppt q-o-q to 98.0%). Occupancy for its data centres remained stable at 93.8%.
Maintains positive rental reversion for third consecutive quarter.
- Mapletree Industrial Trust achieved positive rental reversion for its hi-tech buildings (+8.8%) and flatted factories (+9.4%). Gross rental rate for the Singapore portfolio edged slightly higher by 0.9% y-o-y to S$2.15psf/month in 3QFY23. Retention rate was high at 92.2%.
Redevelopment of Kolam Ayer 2 Cluster.
- - Read this at SGinvestors.io -
- Mapletree Industrial Trust has also pre-leased two floors of 163 Kallang Way. In total, 39% of 161, 163 and 165 Kallang Way is pre-committed. 161 and 163 Kallang Way are expected to complete in 1H23.
Gradual deleveraging though DRP (distribution reinvestment plan).
- Read more at SGinvestors.io.
