MLT maintains Q2 DPU; flags tough leasing environment

Singapore

MAPLETREE Logistics Trust (MLT) has highlighted a challenging leasing outlook for several of its single-tenanted industrial properties, even as it maintained its distribution per unit (DPU) at 1.86 Singapore cents for its fiscal second quarter ended Sept 30.

"Subdued global economic conditions have continued to weigh on business and consumer sentiment," said the real estate investment trust (Reit) in its outlook commentary.

MLT owns a suite of industrial properties across Asia. For its current financial year ending next March, 10 per cent of leases are yet to be renewed. Another 37 per cent are up for renewal in the following two financial years, the bulk of which are for multi-tenanted buildings. …