Mapletree Industrial Trust (MIT) (SGX: ME8U) is a REIT with a diversified portfolio of 86 industrial properties located in Singapore. The properties have a total gross floor area of 20.1 million square feet and include flatted factories, hi-tech buildings, business parks, and light industrial buildings. As at 31 March 2017, MIT’s portfolio is valued at S$3.7 billion.
While the Singapore economy grew 2.5% year-on-year for the second quarter of 2017, the industrial sector remains challenging due to continued new net supply of industrial space and global trade uncertainties.
How will this affect MIT since it is currently an entirely Singapore-focused industrial REIT? I went to the 2017 Mapletree Industrial Trust AGM to find out more:
1. Gross revenue increased 2.7% year-on-year to S$340.6 million and net property income (NPI) increased 4.8% year-on-year to S$256.8 million. This was driven by higher rents achieved across …