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
|
1QFY20/21
(S$’000) |
1QFY19/20
(S$’000) |
YoY(%) |
| Gross Revenue |
100,347 |
112,128 |
(10.5%) |
| Net Property Income |
78,864 |
88,347 |
(10.7%) |
Occupancy
As of 30th June 2020, occupancy stood at 98.2%. Mapletree Business City (“MBC”) continues to provide support and stability.
Debt
As of 30th June 2020...
