MCT reports 1.3% rise in Q3 DPU

MAPLETREE Commercial Trust (MCT), which derives earnings from shopping mall VivoCity and office properties, reported a 1.3 per cent rise in distribution per unit (DPU) for its fiscal third quarter, lifted by higher net property income, it said on Wednesday.

DPU for the three months ended Dec 31, 2018 stood at 2.33 Singapore cents, up from 2.3 Singapore cents the same period a year ago.

Net property income rose 2.2 per cent to S$87.9 million. The higher net property income was offset by higher finance expenses and higher manager's management fees, as well as unrealised foreign exchange loss.

Units of MCT closed at S$1.72 on Wednesday, down one Singapore cent.