The Straits Times
Published on Jan 22, 2013

Mapletree Industrial Trust reports gain, will pay out 2.32 cents per unit for Q3


INDUSTRIAL landlord Mapletree Industrial Trust (MIT) has eked out a 7.4 per cent gain in distribution per unit to 2.32 cents for the third quarter.

The distributable income for the three months ended Dec 31 rose by 6.9 per cent to $37.7 million, driven by healthy rental revenue and improved occupancies in flatted factories and stack up buildings.

Net property income climbed by 7.7 per cent to $49.1 million on the back of a 5.4 per cent gain in gross revenue to $69.2 million.

MIT will be introducing a re-investment plan that will enable unitholders to acquire new units without incurring additional transaction costs.