Mapletree Logistics Hub Tsing Yi, a property of Mapletree Logistics Trust in Hong Kong. (Photo: Mapletree Logistics Trust)

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

Mapletree Logistics Trust (MLT) announced on 25 October that distribution for its 2Q FY20/21 rose 19.2% year-on-year to SGD93.4 million.

Meanwhile, distribution per unit (DPU) for the period grew 5.7% to 2.173 cents, on an enlarged unit base due to the equity fund raising completed in 3Q FY20/21.

Gross revenue for 2Q FY21/22 was SGD165.1 million, an increase of 25.2% year-on-year.

Similarly, net property income (NPI) saw a 21.5% rise to SGD144.4 million.

Growth was driven by higher revenue from existing properties, contributions from accretive acquisitions and higher occupancy from Mapletree Ouluo Logistics Park Phase 2, said the REIT.

As at 30 September 2021, aggregate leverage remained at 38.2%, similar to the previous quarter.

The weighted average borrowing cost was also unchanged at 2.2% per annum for 2Q FY21/22.

MLT was last done on the SGX at SGD2.00, which presently implies a distribution yield of 4.35% 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.