- Mapletree Pan Asia Commercial Trust (SGX:N2IU)’s 2QFY24 (Jul to Sep 2023) gross revenue and net property income (NPI) rose 10.1% and 8.7% y-o-y to S$240.2m and S$183.2m due to a full quarter contribution from the assets acquired through the merger.
MPACT's 2QFY24 DPU dipped 8.2% y-o-y but met our expectations
- - Read this at SGinvestors.io -
- 1HFY24 showed similar trends, with NPI up 31.7% y-o-y to S$362.4m but DPU down 10.5% y-o-y to S$0.0442. This was in-line with our expectations, as 1HFY24 DPU accounted for 49.9% of our FY24 forecast. See. Mapletree Pan Asia Commercial Trust's dividend dates.
Sequentially higher portfolio committed occupancy of 96.3%
- - Read this at SGinvestors.io -
- We were pleasantly surprised to see its China properties record a higher committed occupancy of 88.9% (was 87.3% as at 30 Jun 2023) given the soft macroeconomic and industry conditions.
Singapore assets anchoring overall portfolio rental reversions of +3.2%
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-10-30
Read also OCBC's most recent report:
2025-01-24 Mapletree Pan Asia Commercial Trust - Singapore Resilience Yet To Offset Overseas Weakness.
Previous report by OCBC:
2024-10-28 Mapletree Pan Asia Commercial Trust - Drag From Overseas Operations.
Price targets by other brokers at Mapletree Pan Asia Commercial Trust Target Prices.
Listing of research reports at Mapletree Pan Asia Commercial Trust Analyst Reports.
Relevant links:
Mapletree Pan Asia Commercial Trust Share Price History,
Mapletree Pan Asia Commercial Trust Announcements,
Mapletree Pan Asia Commercial Trust Dividend Payout Dates & Corporate Actions,
Mapletree Pan Asia Commercial Trust News
