The Business Times
business-time-50
SUBSCRIBERS

Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters

Divestment of the Tanglin Halt Cluster has been completed at a sale price of S$50.6 million which represents an 8.4 per cent premium above book value

google-preferred-sourceAdd BT as a preferred source
Raphael Lim

Raphael Lim

Published Fri, Apr 26, 2024 · 12:35 PM
    • Mapletree Industrial Trust’s aggregate leverage ratio has risen to 38.7 per cent as at March 2024, up from 37.4 per cent a year earlier. Interest coverage ratio, meanwhile has fallen to 4.6 times from five times over the same period.
    • Mapletree Industrial Trust’s aggregate leverage ratio has risen to 38.7 per cent as at March 2024, up from 37.4 per cent a year earlier. Interest coverage ratio, meanwhile has fallen to 4.6 times from five times over the same period. PHOTO: ST FILE

    MAPLETREE Industrial Trust (MIT) plans to distribute some S$13 million of gains from divesting its Tanglin Halt Cluster over the next four quarters, its manager said on Friday (Apr 26).

    MIT completed the divestment of 115A & 115B Commonwealth Drive, Singapore – referred to as the Tanglin Halt Cluster – at a sale price of S$50.6 million last month. The sale price represented an 8.4 per cent premium above book value.

    “Relative to our original cost, plus our capitalised cost, we have gains of roughly S$13 million,” said Tham Kuo Wei, chief executive of the real estate investment trust (Reit) manager at an earnings briefing.

    mapletree industrial trustS-Reits

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More