Higher rental rates boost MIT's Q1 DPU

MAPLETREE Industrial Trust (MIT) yesterday posted a distribution per unit (DPU) of 2.51 Singapore cents for its first quarter ended June 30, a 3.3 per cent increase from a year ago.

This came on the back of a 6.3 per cent increase in distributable income to S$42.8 million for the quarter.

Tham Kuo Wei, CEO of the Reit manager, said: "The year-on-year growth in distributable income and DPU in Q1 was mainly driven by higher rental rates secured for leases across all property segments except business park…