Many people are familiar with Sentosa and the shopping mall that links directly with the island resort – VivoCity. The mall is the largest in Singapore and enjoys a huge amount of shopper traffic from Singaporeans and tourists alike.
Mapletree Commercial Trust (SGX: N2IU) (MCT) is the REIT that owns VivoCity along with three office properties located in and around Singapore’s central business district. MCT is one of the better-performing REITs in my stock portfolio and I attended its annual general meeting to find out how the management plans to maintain MCT’s growth in the year ahead.
Here are 12 things I learned from Mapletree Commercial Trust’s FY2016 AGM:
- Gross revenue increased 1.9% year-on-year to $287.8 million. VivoCity was the main contributor accounting for 66.4% of gross revenue. Net property income (NPI) increased 4.4% to $220.7 million year-on-year respectively. Again, VivoCity was the main driver ...