MCT's Q3 DPU up 9.6% on acquistion of Mapletree Business City 1

Kalpana Rashiwala

Published Wed, Jan 25, 2017 · 10:56 AM

MAPLETREE Commercial Trust (MCT) on Wednesday posted a 9.6 per cent year-on-year increase in distribution per unit (DPU) to 2.28 Singapore cents for the third quarter ended Dec 31, 2016 - led by the yield-accretive acquisition of Mapletree Business City 1 (MBC 1).

Income available for distribution for Q3 FY2017 surged 48.2 per cent to S$65.6 million from the year-ago period. Net property income shot up 49 per cent to S$84.4 million. Gross revenue climbed 47.4 per cent to S$108.8 million.

MCT units finished one Singapore cent lower at S$1.48 on Wednesday.

Unitholders can expect to receive their distribution on Feb 28. The books closure is at 5pm on Feb 3.

Besides MBC I, other assets owned by the trust are VivoCity, PSA Building, Mapletree Anson and Bank of America Merrill Lynch HarbourFront. These five assets have a total net lettable area of 3.8 million square feet with a total value of S$6.12 billion.