To The Moon

$Mapletree Ind Tr(ME8U.SI)$  

 Gross revenue and net property income for 2QFY25/26 decreased by 6.2% and 7.8%

year-on-year to S$170.2 million and S$124.0 million respectively. This mainly reflected the

reduced income from the portfolio divestment of three industrial properties in Singapore (the

“Singapore Portfolio Divestment”) on 15 August 2025 as well as the lower contribution from

the North American Portfolio from non-renewal of leases and the depreciation of USD against SGD.

The decline was partially moderated by higher contributions from the freehold mixed-

use facility in Tokyo acquired on 29 October 2024, and the completion of the final phase of

fitting-out works of the Osaka Data Centre on 2 May 2025.

Consequently, the Distribution to Unitholders for 2QFY25/26 was S$90.7 million, 5.3% lower

than the corresponding quarter last year. The Distribution to Unitholders was also affected by

the lower cash distribution declared by the joint venture, Mapletree Rosewood Data Centre

Trust due to higher borrowing costs from the repricing of matured interest rate swaps.

Correspondingly, DPU fell by 5.6% year-on-year to 3.18 cents in 2QFY25/26 mainly due to the

absence of the distribution of net divestment gain from the Tanglin Halt Cluster. XD 5th November, paydate 10 December 2025.

Average Overall Portfolio occupancy was 91.3% in 2QFY25/26, marginally lower than the

previous quarter of 91.4%.

Singapore Portfolio registered an average rental rate of S$2.27 per square foot per month with

a weighted average rental reversion rate of about 6.2%.

As at 30 September 2025, the weighted average lease to expiry of the Overall Portfolio

increased quarter-on-quarter to 4.6 years from 4.5 years in the preceding quarter. This was

mainly due to a five-year lease renewal in the North American Portfolio. Since July 2025,

approximately 184,300 square feet of leases or 2.6% of MIT’s North American Portfolio’s net

lettable area were executed with a weighted average rental reversion rate of about 3%.

Following the completion of the Singapore Portfolio Divestment, the net proceeds were used

to repay outstanding borrowings in the interim, which resulted in a lower aggregate leverage

ratio and increased debt headroom for MIT. This strategic divestment optimises MIT’s portfolio

composition while enhancing its financial flexibility to pursue new investment opportunities for

sustainable returns.

Gearing reduced from 40.1% to 37.3%.

Pls dyodd.

 https://sporeshare.blogspot.com/2025/10/mapletree-ind-tr-2nd-quarter-results-is.html