Mapletree North Asia Commercial Trust (MNACT) has reported a distribution per unit (DPU) of 1.937 Singapore cents for its 2Q FY19/20, up 0.6% year-on-year.

The REIT’s gross revenue for the period was SGD105.5 million, 0.9% higher year-on-year, while net property income (NPI) increased 1.3% to SGD84.7 million.

The year-on-year increases were mainly due to higher rental income from its property in Hong Kong, Festival Walk, and the higher average rate of HKD and JPY.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.