- Mapletree Pan Asia Commercial Trust (SGX:N2IU) reported 3QFY25 DPU of S$2.05c, +2.5% y-o-y.
- 9MFY25 Mapletree Pan Asia Commercial Trust's DPU is flat y-o-y. Stronger performance in Singapore and lower finance expenses was partly offset by softer overseas performance.
- - Read this at SGinvestors.io -
Stable operating trend
- 3Q revenue and NPI came in at S$219.4m and S$164.9m, -1.9% and - 1.2% y-o-y, respectively. This was largely due to divestment of Japan assets and adverse FX offset by higher contribution from Singapore. Finance expenses fell 10.2% y-o-y due to lower HKD/S$ interest rates and reduced borrowings. 3Q distribution income (DI) rose 3.3% and DPU rose 2.5%.
- - Read this at SGinvestors.io -
- Portfolio reversion was flat (+0.3%) as mid-teens positive reversion in VivoCity was offset by continued negative reversions in Greater China as well as MBC. Tenant sales for VivoCity grew 4.4% y-o-y, driven by completion of Basement 2 AEI. Tenant sales for Festival Walk slipped 3.4% y-o-y due to outbound travel.
- Outlook is unchanged as overseas assets face persistent headwinds.
Proactive capital management
- Read more at SGinvestors.io.
