Mapletree Investments reports 18% drop in net profit to S$1.78b

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.

Revenue rose 1 per cent to S$3.9 billion, from S$3.8 billion previously.

Hiew Yoon Khong, Mapletree group chief executive officer, said the group had fortunately focused on …

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