- Mapletree Logistics Trust's 2QFY26 gross revenue and net property income (NPI) declined 3.2% and 3.3% y-o-y to S$177.5m and S$153.3m, respectively. This was driven by lower contributions from China and South Korea as well as negative FX translation impact, but partially offset by contributions from redevelopment projects.
2QFY26 results in-line with our expectations.
- - Read this at SGinvestors.io -
- For 1HFY26, Mapletree Logistics Trust's DPU and adjusted DPU dipped 11.4% and 6.1% y-o-y to 3.627 Singapore cents respectively. This formed 48.6% of our initial FY26 forecast and was within our expectations.
Improvement in portfolio occupancy...
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- Singapore’s occupancy increased 0.7 ppt q-o-q to 94.6% as the recently redeveloped Mapletree Joo Koon Logistics Hub ramped up its occupancy rate from 42.4% in 1QFY26 to 60.1%.
- China’s occupancy rose 1.0 ppt q-o-q to 94.0%, while
- Australia, Malaysia, Vietnam and India maintained full occupancy.
... but rental reversions eased to 0.6% despite narrower declines from China.
- Read more at SGinvestors.io.
