- Mapletree Logistics Trust (MLT) reported 2QFY26 DPU of 1.815 cents (-10.5% y-o-y), which is in line with our expectation.
NPI shrinkage primarily caused by divestments.
- - Read this at SGinvestors.io -
- MLT was affected by currency weakness for HKD, CNY, AUD, KRW and VND. On a constant currency basis, gross revenue and NPI declined by a smaller 0.9% and 1.0% y-o-y respectively.
Moderation in negative rental reversion in China.
- - Read this at SGinvestors.io -
Moderation in positive rental reversion from Singapore and Japan.
- The overall portfolio’s rental reversion was a dismal 0.6% in 2QFY26. Rental reversion was stronger at 2.5% if China was excluded. We observed moderation in positive rental reversion in Singapore from 5.2% to 3.9%.
- Similar, positive rental reversion in Japan has softened from 7.2% to 0.0%. Positive rental reversions for Hong Kong and South Korea were marginal at 0.7% and 1.1% respectively.
Transitional vacancy from Japan.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-10-30
Read also UOB's most recent report:
2026-01-29 Mapletree Logistics Trust 3QFY26 - Positive Rental Reversion At Low Single-digit.
Price targets by 3 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
