Mapletree Commercial Trust's Mapletree Business City. (Photo: Mapletree Commercial Trust)

Data from Mapletree Commercial Trust’s latest disclosure has been incorporated into the Singapore REITs table.

Mapletree Commercial Trust (MCT) reported on 27 October that its 1H FY21/22 DPU was up 5.3% year-on-year to 4.39 cents.

The REIT’s ross revenue and NPI rose 11.5% and 10.7% respectively on a year- on-year basis.

This was mainly due to lower rental rebates compared to a year ago, as well as compensation received from a pre-terminated lease at mTower, the REIT added.

MCT achieved 3.5% and 1.5% of rental uplifts for its retail and office/business park leases respectively during the period, resulting in overall portfolio rental reversion of 2.3% for 1H FY21/22.

As at 30 September 2021, the committed occupancy of MCT’s portfolio was 96.0%.

The REIT’s average term to maturity of debt was 3.8 years and the aggregate leverage was 33.7%.

MCT was last done on the SGX at SGD2.17, which presently implies a distribution yield of 4.05% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.