Sovereign wealth fund Temasek Holdings has increased its stake in Singapore-listed Industrial REIT Mapletree Industrial Trust to 31.17 per cent. This is up a third of a percentage point from 30.84 per cent previously.

Temasek Holdings' stake in Mapletree Industrial Trust increased due to a dividend distributions received by its subsidiary companies in the form of new units.

The change in stake came about after subsidiary companies under Temasek Holdings acquired 9,175,544 voting units in the REIT as a result of their participation in the Distribution Reinvestment Plan.

These distributions received were in the form of new units in Mapletree Industrial Trust by companies Mapletree Dextra and Mapletree Industrial Trust Management, wholly owned subsidiaries of Mapletree Investments which is in turn a whole owned subsidiary of Fullerton Management. Fullerton Management is a wholly owned subsidiary of Temasek Holdings.

Temasek Holdings has clarified in a filing that it does not have any direct interest in the voting units of Mapletree Industrial Trust.

Units of Mapletree Industrial Trust closed the day 0.39 per cent higher at S$1.29 on the Singapore Exchange.