Mapletree Industrial's Q3 DPU up 6.4%

Singapore

MAPLETREE Industrial Trust on Tuesday reported a 6.4 per cent increase in distribution per unit (DPU) to 2.67 Singapore cents for its third quarter ended Dec 31, 2014. This was up from the 2.51 cents that it paid out a year ago.

Higher rental rates secured for renewal leases in its flatted factories, business parks and stack-up/ramp-up buildings, as well as revenue contribution from its completed development projects boosted gross revenue by 3.3 per cent to S$78.13 million.

Coupled with lower property operating expenses, this helped net property income to rise 5.4 per cent to S$57.98 million. The real estate investment trust (Reit) said that it has employed a cost-saving initiative to work with licensed electricity retailers to bulk-buy electricity, which has resulted in lower utili…