MLT – CNA

Mapletree Logistics Q3 DPU down 19.6% on year

Mapletree Logisticis Trust has reported a third quarter distribution per unit of 1.48 cents, down 19.6 per cent from a year earlier.

The fall in DPU was mainly due to the enlarged number of units as a result of a rights issue in August last year. However the DPU was the same as in the second quarter.

Net property income for the three months ended September rose 9.5 percent to S$44 million.

MapletreeLog said the result reflects the resilience of its portfolio which continues to enjoy high occupancy rates and sustained rental rates.

Looking ahead, the logistics REIT said it expects pressure on occupancy and rental rates to ease a little with the improving outlook.

It added that the impact of the economic crisis on the current capital and real estate markets has thrown up some acquisition opportunities in Asia which it intends to look into.