Company Briefs: Mapletree Industrial Trust

Mapletree Industrial Trust

Distributable income at Mapletree Industrial Trust rose 9.5 per cent year on year to $50.31 million for the third quarter.

This was driven by stable operational performance and the contribution from the completed build-to-suit data centre at 26A Ayer Rajah Crescent, the trust's manager said yesterday.

Distribution per unit rose 5.6 per cent to 2.82 cents. Gross revenue was up 6.6 per cent to $83.25 million while net property income rose 6.7 per cent to $61.88 million.

Average portfolio occupancy rose from 93.8 per cent in the second quarter to 94.7 per cent in the third quarter, while average portfolio passing rent rose from $1.88 per sq ft per month to $1.89 per sq ft per month.

The trust's units closed down 1.5 cents at $1.495 yesterday.

Suntec Reit

Distributable income at Suntec Reit for the fourth quarter rose 7.7 per cent year on year to $69.5 million.

Distribution per unit rose 6.7 per cent to 2.75 cents. Distributable income rose 9.4 per cent to $252 million for the year while distribution per unit was 6.4 per cent higher to 10.002 cents.

The Reit recorded a 13.9 per cent rise in gross revenue to $87.5 million for the three months to Dec 31, while net property income rose 17.9 per cent to $62.5 million. This was mainly due to the opening of Phase 3 of Suntec City Mall and a higher contribution from Suntec Singapore, said the Reit's manager.

The trust's units closed down one cent at $1.51 yesterday.

YTL Starhill Global Reit

YTL Starhill Global Reit's second-quarter distribution per unit rose 2.3 per cent to 1.32 cents.

Revenue for the three months to Dec 31 grew 13.8 per cent to $55.6 million while net property income (NPI) rose by 10.4 per cent to $43.7 million. The growth in revenue and NPI was mainly driven by the contribution from Myer Centre Adelaide, which was acquired last May, and the resilience of the Singapore portfolio performance. This was partially offset by lower contributions from China and net foreign currency movements.

Income distributable to unitholders was $28.8 million, up 3.7 per cent.

YTL units ended half a cent higher at 73 cents yesterday.

A version of this article appeared in the print edition of The Straits Times on January 27, 2016, with the headline 'Company Briefs: Mapletree Industrial Trust'. Print Edition | Subscribe