MLT's Q3 DPU unchanged at 1.87 cents

Singapore

MAPLETREE Logistics Trust (MLT) reported distribution per unit of 1.87 cents for the third quarter ended Dec 31, 2015, unchanged from a year ago, buoyed by divestment gains from the sale of two low-yielding industrial properties in Singapore.

Excluding the partial distribution of the divestment gains of S$1.5 million during the quarter, its DPU would have been lower at 1.81 cents, amid higher borrowing costs and property expenses.

MLT had divested 20 Tampines Street 92 and 134 Joo Seng Road, bagging net divestment gains of S$10 million that was to be distributed over fou…