Mapletree Industrial Trust announces rare 0.9% decline in DPU for nine months to Dec 31, 2022

Mapletree Industrial Trust announced a 0.7% decline in DPU to 10.24 cents for the nine months to Dec 31, 2022

Mapletree Industrial Trust announced DPU for the three months to Dec 31, 2022, its 3QFY2023, of 3.39 cents, up 0.9% q-o-q but down 2.9% y-o-y. For 9MFY2023, DPU fell a marginal 0.7% y-o-y to 10.24 cents.

Tham Kuo Wei, CEO of MIT’s manager said “While MIT’s operating metrics remained strong, we encountered headwinds from higher operating expenses and borrowing costs. We have reached another milestone in our portfolio rejuvenation and rebalancing efforts with the completion of the first block of the new high-tech industrial redevelopment project at Kallang Way in November 2022.”

MIT’s capital management remains resilient, with fixed debt at 74.3%, weighted average debt to maturity of 3.8 years, and cost of funds at 3.3% as at Dec 31, 2022.

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