Retail and office REIT Mapletree Commercial Trust (SGX:N2IU) held its 9th annual general meeting for the financial year 2019/20 ended 31 March 2020 via virtual means this afternoon, which I have attended as a unitholder.
It was a short-and-sweet meeting, lasting just slightly over 30 minutes. For the benefit of those who weren’t able to attend, you’ll find a summary of the presentation by Ms Janica Teo (Chief Financial Officer), and Ms Sharon Lim (Chief Executive Officer) which I’ve compiled in this post:
Financial Results (FY2018/19 vs. FY2019/20)
- Gross Revenue: Up 8.8% to S$482.8m (FY2018/19: S$443.9m)
- Property Operating Expenses: Up 9.0% to S$104.9m (FY2018/19: S$96.3m)
- Net Property Income: Up 8.7% to S$377.9m (FY2018/19: S$347.6m), contributed by MBC II, which was acquired on 01 November 2019