Mapletree Logistics Trust's Natural Cool Lifestyle Hub. (Photo: REITsWeek)

Mapletree Logistics Trust (MLT) has registered gross revenue of SGD128.1 million, and net property income (NPI) of SGD114.7 million for 4Q FY19/20.

These represent year-on-year increases of 5.5% and 9.3% respectively.

The REIT has attributed these improvements to higher revenue from existing properties and contributions from its recent acquisitions.

Amount distributable to unitholders increased by SGD4.5 million or 6.2% year-on-year to SGD77.8 million for 4Q FY19/20.

Meanwhile, DPU rose 1.2% to 2.048 cents on an enlarged issued unit base.

Accordingly, full year FY19/20 DPU was 8.142 cents, representing a 2.5% increase from the prior year.

Consequently, net asset value per unit of MLT rose 3.4% to SGD1.21 from SGD1.17 a year ago.

Portfolio occupancy improved from 97.7% last quarter to 98.0% due to higher occupancies in Hong Kong and China.

Accordingly, total debt outstanding as at 31 March 2020 was SGD3,550 million, translating to a gearing ratio of 39.3% .

The weighted average borrowing cost for 4Q FY19/20 was stable at 2.5% per annum.

Data from the REIT’s latest results have been updated into the Singapore REITs table.

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.