Basic Profile & Key Statistics
Mapletree Industrial Trust (MIT) invests in Business Park and Industrial properties, which include Data Centres as well. MIT owns 111 properties across Singapore, U.S. and Canada.
Quarter Performance Review
Gross revenue and NPI increased by 1.5% and 2% respectively. Share of joint ventures' results figure is less useful. A better way would be looking at distributions from the joint venture in cash flows statement, 2Q FY20/21 at S$ 11.899 million; 2Q FY19/20 at S$ 3.733 million, increased by 318.8%. DPU dropped marginally by 1%.
Hi-Tech buildings (include data centres) and business parks have increased rental for new leases. Business parks have positive rental reversions. While flatted factories and ramp-up buildings have a lower rental for new leases and renewal leases.
MIT has completed the acquisition of the remaining 60% interest in 14 data centres in the United States on 1 Sep 2020 which was funded through private placement...