MIT's DPU down 1% for Q2; rental reliefs to hit FY20/21 distributable income

Published Tue, Oct 27, 2020 · 09:50 PM

Singapore

THE distribution per unit (DPU) of Mapletree Industrial Trust (MIT) fell to 3.10 Singapore cents for the second quarter ended Sept 30, from 3.13 cents a year ago.

This is despite distributable income rising 14.8 per cent to S$72.9 million on the back of higher net property income and distributions declared by joint ventures; distributable income was, however, partially offset by higher manager's management fees.

Gross revenue was up 1.5 per cent to S$103.4 million for the second quarter, from S$101.9 million a year ago; net property income (NPI) grew 2.0 per cent to S$81.6 million from a year ago.

This was mainly driven by new revenue contribution from the 14 data centres in the US, but partly offset by the rental reliefs extended…