Mapletree Commercial Trust Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 25, 2017 at 01:08 pm
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Mapletree Commercial Trust announced unaudited earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, gross revenue was SGD 108,761,000 against SGD 73,768,000 a year ago. Net property income was SGD 84,360,000 against SGD 56,603,000 a year ago. The company reported net income of SGD 70.9 million compared to SGD 41.4 million, income available for distribution to unitholders of SGD 65.6 million or 2.28 cents per unit compared to SGD 44.2 million or 2.08 cents per unit for the last year. Net cash provided by operating activities was SGD 96.9 million compared to SGD 58.5 million, additions to plant and equipment was SGD 2,000 and acquisition of investment property was SGD 0.3 million additions to properties was SGD 3.2 million compared to SGD 1.0 million for the last year.
For the nine months, gross revenue was SGD 270,220,000 against SGD 214,770,000 a year ago. Net property income was SGD 209,058,000 against SGD 165,669,000 a year ago. The company reported net income of SGD 147.4 million compared to SGD 118.2 million, income available for distribution to unitholders of SGD 162.7 million or 6.36 cents per unit compared to SGD 129.6 million or 6.11 cents per unit for the last year. Net asset value per unit was SGD 1.34 as at 31 December 2016 compared to SGD 1.30 as at 31 March 2016. Net cash provided by operating activities was SGD 219.6million compared to SGD 159.3 million, additions to plant and equipment was SGD 97,000 and acquisition of investment property was SGD 1,834.1 million additions to investment properties was SGD 12.4 million compared to SGD 4.9 million for the last year.
Mapletree Pan Asia Commercial Trust is a Singapore-based real estate investment trust. The Company's principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the markets of Asia, including but not limited to Singapore, China, Hong Kong, Japan and South Korea. The Company's portfolio comprises approximately 18 commercial properties across five markets of Asia, including five in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. Its portfolio consists of office, industrial, logistics, residential, retail, multifamily/serviced apartment, student accommodation, and mixed-use. Its Singapore properties include VivoCity, Mapletree Business City, mTower, Mapletree Anson and Bank of America HarbourFront. The Company is managed by MPACT Management Ltd.