SINGAPORE - Mapletree Greater China Commercial Trust Healthy rental reversions and contributions from its newly-acquired business park property boosted earnings at Mapletree Greater China Commercial Trust (MGCCT).
The Reit posted a 12.6 per cent increase in distribution per unit (DPU) to 1.808 cents for the second quarter.
Gross revenue rose 25.4 per cent to S$84.6 million for the three months to Sept 30, compared with a year earlier. Net property income jumped 26 per cent to S$69.5 million.
"The overall Hong Kong retail market has been impacted by the recent China stock market volatility and decline in Chinese tourist arrivals," said Ms Cindy Chow, chief executive of the Reit manager in a statement filed with the Singapore Exchange on Tuesday (Oct 27).
"Festival Walk (its shopping mall in Hong Kong), however remained resilient with continued increase in footfall driven primarily by local consumers," she added.
"We will continue to proactively manage the assets and costs to deliver steady returns, as well as seek new opportunities to further add value to the portfolio."
Unitholders can expect the distribution of 3.499 cents for the period from Apr 1 to Sept 30 on Nov 26. The book closure date is at 5pm on Nov 4.
The units closed flat at 99 cents on Tuesday.