- Mapletree Logistics Trust reported a DPU of 1.812 cents for 1QFY26 (-12.4% y-o-y), which is below our expectations. Excluding capital distributions from past divestment gains, DPU would have declined by a smaller 7.3% y-o-y.
Headwinds from China and a strong Singapore dollar.
- - Read this at SGinvestors.io -
- The Australian dollar (-7.5% y-o-y), Chinese Yuan (-4.4% y-o-y), Hong Kong Dollar (-6.7% y-o-y) and Korean won (-4.3% y-o-y) depreciated against the Singapore dollar. Borrowing costs increased 2.3% y-o-y.
Suffered revenue contraction in China and South Korea.
- - Read this at SGinvestors.io -
- Revenue from China declined 18.4% y-o-y in 1QFY26 due to eight consecutive quarters of continued negative rental reversions. Revenue from South Korea also declined 11.2% y-o-y due to the Korean won’s weakness against the Singapore dollar.
Portfolio occupancy eased 0.5ppt q-o-q to 95.7% as of Jun 25.
- Read more at SGinvestors.io.
