MGCCT's Q3 DPU falls to 1.778 cents

THE manager of Mapletree Greater China Commercial Trust (MGCCT) on Thursday announced that its distribution per unit (DPU) for the third quarter of financial year 2017 is at 1.778 Singapore cents. This is 0.076 cents lower than a year ago.

Overall performance for the three months ended Dec 31, 2016, was affected by the inclusion of value added tax and incremental property tax payable for Gateway Plaza in Beijing, the manager said.

Gross revenue was thus lower by 0.5 per cent at S$87.83 million.

Net property income was lower by 1.5 per cent at S$71.4 million

The Reit reported better overall occupancy rate for the quarter. Its portfolio's occupancy rate improved from 95.7 per cent a quarter ago to 98.6 per cent as of Dec 31, 2016. About 6 per cent of portfolio leases by gross rental income expiring by March 2017 are pending renewal or re-letting.

MGCCT's counter was lower by 0.5 cent to end Thursday at S$0.955 before the results were announced.