Mapletree Commercial Trust (SGX:N2IU) (MCT) reported on Thursday that Net Property Income (NPI) for 1H FY20/21 was S$171.5 million, down 2.6% year-on-year. Gross Revenue was also down 2.5% to S$218.7 million. This decline was mostly due to rental rebates granted to eligible retail tenants affected by Covid-19, but offset by contribution from Mapletree Business City (MBC) II which was acquired on 1 November 2019. Distribution per unit (DPU) for 1H FY20/21 was 4.17 cents, a decline of 9.9% year-on-year. The rebound in tenant sales has outpaced shopper traffic since Phase Two lifting of the circuit breaker and resumption of shopper activities. As at 30 September, MCT’s committed occupancy remained high at 97.7%. “We believe that there is room for further improvement in tenant sales and shopper traffic once restrictions such as border closures, work-from-home directives and safe distancing measures are lifted”Ms Sharon Lim, CEO of the Manager In 2Q...