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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

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

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