MLT manager turns cautious on forex, interest rate impact

THE manager of Mapletree Logistics Trust (MLT) on Tuesday (May 2) warned of more uncertainty ahead, as higher interest rate costs and foreign exchange fluctuations continue to impact its performance.

“No matter how resilient and robust we make our portfolio, the headwinds of what is happening globally against the Singapore dollar, as well as the interest rates, that is going to continue to impact us,” said Ng Kiat, chief executive officer of the manager, at a briefing following the release of its results for the full year ended March.

“I want to highlight this word of caution that, moving ahead, we will continue to see a very resilient portfolio, we will continue to have positive rental reversions… but the forex and the interest costs are going to hit us quite badly,” she added.