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MIT posts 2.7% rise in Q1 DPU

MAPLETREE Industrial Trust (MIT) on Tuesday posted a 2.7 per cent rise in distribution per unit (DPU) for the fiscal first quarter.

DPU for the three months ended June 30 stood at three Singapore cents, up from 2.92 Singapore cents from the year-ago period.

Net property income for the quarter rose 1.9 per cent to S$69.5 million from a year ago.

In a media statement, it said the wider economy and business sentiments of small and medium enterprises in Singapore "remain robust".

"However, looming uncertainties stemming from heightened global political and trade tensions continue to threaten the projected growth momentum. Furthermore, the continuing supply of competing industrial space is exerting pressure on both occupancy and rental rates," it said.

"The manager will continue to focus on tenant retention to maintain a stable portfolio occupancy."

sentifi.com

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