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Mapletree Industrial Achieves Stable Distribution Per Unit of 3.10 Cents for 2Q 2020

Mapletree Industrial Achieves Stable Distribution Per Unit of 3.10 Cents for 2Q 2020

October 28, 2020 – Mapletree Industrial Trust Management Ltd., as manager of Mapletree Industrial Trust (MIT), wishes to announce that MIT’s distributable income for the Second Quarter Financial Year 2020/2021 from 1 July 2020 to 30 September 2020 (“2QFY20/21”) rose by 14.8% year-on-year to S$72.9 million while distribution per Unit (“DPU”) for 2QFY20/21 decreased by 1.0% year-on-year to 3.10 cents on an enlarged unit base.

Gross revenue and net property income for 2QFY20/21 were S$103.4 million and S$81.6 million, representing year-on-year increases of 1.5% and 2.0% respectively.

The improvement was mainly driven by new revenue contribution from the 14 data centres in the United States, but partly offset by the rental reliefs extended to tenants and the loss of revenue due to the redevelopment of the Kolam Ayer 2 Cluster.

The acquisition of the remaining 60% interest in the 14 data centres in the United States from Mapletree Investments Pte Ltd (MIPL) was completed on 1 September 20201.Distributable income for 2QFY20/21 was S$72.9 million, 14.8% higher than 2QFY19/20.

This was achieved due to higher net property income and distributions declared by joint ventures.

Read more here..

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