Acquisitions, higher revenue boost MLT's Q2

Singapore

HIGHER revenue from its Hong Kong properties, four completed acquisitions in Australia, Malaysia and Vietnam in FY17, as well as higher translated revenue from the stronger Australian dollar, lifted results for industrial landlord Mapletree Logistics Trust (MLT) in its second quarter.

Distribution per unit edged up to 1.887 Singapore cent from 1.86 Singapore cent in the preceding year.

In September, MLT launched an equity fundraising exercise to raise gross proceeds of about S$640 million to partially finance the purchase of Mapletree Logistics Hub Tsing Yi in Ho…