Mapletree Commercial Trust (MCT) is an SGX-listed REIT that owns a portfolio of retail and office properties in Singapore. As at 31 March 2018, MCT’s property portfolio was valued at S$6.7 billion.
As an MCT unitholder, the REIT has given me steady dividends and capital gains over the last few years, driven mainly by the consistent performance of VivoCity and the acquisition of Mapletree Business City I (MBC I).
I attended MCT’s annual meetings in 2016 and 2017 where the management reported solid growth and a strong set of results each time. Will it be third time lucky this year?
Here are seven things I learned from the 2018 Mapletree Commercial Trust AGM:
1. Gross revenue grew 14.8% year-on-year to S$433.5 million and net property income grew 15.9% to S$338.8 million. This was mainly due to a full-year contribution from MBC I, and higher contributions ......