Mapletree Commercial Trust has announced their 1QFY20/21 financial results on 23rd July 2020. No distribution was declared as Mapletree Commercial Trust has adopted the new half-yearly reporting framework with effect from FY20/21. Any distributions to Unitholders is on a half-yearly basis with effect from FY20/21.
Similar to other shopping malls, VivoCity’s 1Q FY20/21 shopper traffic and tenant sales were impacted by eight-week circuit breaker and other COVID-19 restrictions.
Gross revenue and Net Property Income (“NPI”) was down 10.5% and 10.7% respectively from 1Q FY19/20. The decline was mainly due to COVID-19 rental rebates disbursed during the quarter but was mitigated by contribution from Mapletree Business City II (“MBC II”) acquired in November 2019.
1QFY20/21 Financial Results
|Net Property Income||78,864||88,347||(10.7%)|
As of 30th June 2020, occupancy stood at 98.2%. Mapletree Business City (“MBC”) continues to provide support and stability.
As of 30th June 2020