Mapletree Logistics Trust - OCBC Investment 2023-10-25: Eking Out Positive DPU Growth

• Mapletree Logistics Trust (SGX:M44U)’s 2QFY24 results met our expectations. Gross revenue and net property income (NPI) rose 1.5% and 1.2% y-o-y to S$186.7m and S$162.0m, respectively. This was driven by organic growth in Singapore and Hong Kong, but partially offset by weaker contribution from China and depreciation of CNY, JPY, HKD and AUD against S$.
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2QFY24 results met our expectations

• Despite higher borrowing costs (+10.2% y-o-y), Mapletree Logistics Trust managed to deliver positive y-o-y DPU growth of 0.9% to S$0.02268 due in part to the distribution of divestment gains amounting to S$8.8m (2QFY23: S$1.8m). See Mapletree Logistics Trust's dividend dates.
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Weaker operating performance from China but this was well flagged by management previously

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Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2026-01-27 Mapletree Logistics Trust - More Time Needed For Recovery In China.

Previous report by OCBC:
2025-10-29 Mapletree Logistics Trust - Some Light At The End Of The Tunnel.

Price targets by other brokers at Mapletree Logistics Trust Target Prices.

Listing of research reports at Mapletree Logistics Trust Analyst Reports.

Relevant links:
Mapletree Logistics Trust Share Price History,
Mapletree Logistics Trust Announcements,
Mapletree Logistics Trust Dividend Payout Dates & Corporate Actions,
Mapletree Logistics Trust News