Mapletree Investments reports 18% drop in net profit to S$1.78b
After posting highest recurring earnings of S$752m in five years, group is exploring launching more funds or Reits
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Angela Tan
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Singapore
MAPLETREE Investments announced on Wednesday that its net profit for the fiscal year ended March 31, 2020 fell 18 per cent to S$1.78 billion, compared to S$2.16 billion a year earlier, on lower asset revaluation and disposal gains.
But the property-related group - which owns and manages S$60.5 billion of office, retail, logistics, industrial, data centre, residential and lodging properties spanning 13 markets globally - did deliver its highest recurring earnings in five years. Recurring earnings totalled S$752 million, up 5 per cent from a year earlier.
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