Mapletree Industrial Trust (MIT) is a SGX-listed REIT with 87 industrial properties in Singapore and 27 data centres in North America. Flatted factories and hi-tech buildings make up the bulk of MIT’s Singapore properties, and it has also sought to tap on the secular growth of data centres in North America recently. Although MIT’s share price plunged by about 36% during March due to the pandemic, it has rebounded strongly by more than 60% to S$3.16 from its low of S$1.91. COVID-19 has certainly hit the economy hard, so I wanted to find out how MIT was responding to the challenges posed by the pandemic. Here are seven things I learned from MIT’s 2020 AGM: 1. MIT’s distribution per unit (DPU) increased by 0.7% y-o-y to 12.24 cents in FY19/20. The increase in DPU was driven mainly by the 10.5% y-o-y growth of MIT’s net property income (NPI) from acquisition and development projects in Singapore as well as contribution from the 13 newly...