I will be comparing Mapletree and Ascendas Reit in this post.

Both are bigger reits with government-linked heritage.

 

Capital management

Both have prudent refinancing schedule stretch over more than 6 years. With the exception of FY19/20 (27%) for Mapletree, both have less than 20% of bank borrowing scheduled for refinancing for any one year.Portfolio management

Both reits managed positive rental renewal across all property segments. Average rental reversion is 6.3% compared to a year ago for ascendas, but data not available for Mapletree. As for new leases, light industrial new leases rate is 21% lower than 1 year ago for ascendas. Again, no data available for comparion with Mapletree.In terms of occupancy rates, Ascendas did better in Business Park Segment and Hi Tech/ Hi Spec industrial segment, but lost out to Mapletree in light industrial segment.In terms of lease expiry, Ascendas has better profile, with …