I’ve always wanted to experience listening in on an earnings call with a company’s management, and to be able to observe how analysts question the company’s management on the specific operating metrics and the outlook of the company. Last week, I attended Mapletree Commercial Trust’s 4thquarter analyst briefing via webcast. I felt that it was an insightful discussion as it provided a bit more colour on the performance and the outlook of MCT’s assets, and the management had discussed further details that were not present in the earnings presentation and financial statements.

Here’s a summary of the 7 things I’ve learnt:

Source: MCT 4Q Results Presentation

1. Headline numbers were the increase in revenue and NPI by 12.6% and 12.8% respectively, from 4Q‘18. This was mainly due to the increase in contribution from the acquisition of MBC ll completed in 3Q 2019, offset by a decrease in revenue from VivoCity, due rental