MGCCT posts 9.5% rise in Q3 DPU to 1.662 Singapore cents (Amended)

MAPLETREE Greater China Commercial Trust (MGCCT) posted a 9.5 per cent year-on-year rise in distribution per unit of 1.662 Singapore cents for its fiscal third quarter ended Dec 31, 2014, translating to an annualised yield of 6.5 per cent.

The Q3 DPU also beat its own forecast by 17 per cent.

Cindy Chow, chief executive of the Reit manager, pointed out that the strong set of results was achieved on the back of continuing healthy rental reversions, high occupancy and effective cost management.

MCCGT currently owns Festival Walk, a retail and office property in Hong Kong, and Gateway Plaza, a Grade-A office building in Beijing's Chaoyang District.

"Both assets remain well-positioned to benefit from healthy leasing demand and the limited supply in their respective locations," Ms Chow said.

"We will continue to enhance returns to our unitholders through proactive asset management, and will pursue yield-accretive acquisitions in the Greater China region while maintaining an efficient capital management structure."

The original story mentioned that MGCCT's Q3 DPU beat its own forecast by 12.6 per cent. It should be 17 per cent. The story is amended to reflect this.