Basic Profile & Key Statistics

Mapletree Commercial Trust (MCT) invests in both office and retail properties and currently owns 5 properties in Singapore.

Performance Highlight

Gross revenue before grant, NPI and distributable amount before adjustment increased YoY by 0.6%, 1.8% and 6.5% respectively. The DPU before adjustment for 2H FY20/21 and 2H FY19/20 would be around 4.92 cents and 4.63 cents respectively, which increased by 6.3% YoY.

Portfolio rental reversion for FY20/21 is at -3.1% with the retail sector impacted most.

Comparing with 2019, tenant sales recovered to 86% despite shopper traffic recovered only to around 60%.

Related Parties Shareholding

  • REIT sponsor’s shareholding is high at 32.44%
  • REIT manager’s shareholding is high at 2.91%
  • Directors of REIT manager’s shareholding is high at 0.26%

Lease Profile

  • Occupancy is slightly high at 97.1%
  • WALE is short at 2.4 years
  • Highest lease expiry within 5 years is slightly low at 25% which falls in FY22/23
  • Weighted average land lease expiry is slightly long at 75.91 years (to be updated after release of annual report)