Mapletree Industrial Trust (MIT) is an SGX-listed REIT that owns a portfolio of 115 industrial and data centre properties located in Singapore and North America. As of 31 March 2021, MIT has assets under management of S$6.8 billion. COVID-19 caused substantial impact to many Singapore REITs, but industrial REITs were spared the worst and, in fact, thrived during the pandemic. I wanted to find out how MIT performed during the last financial year and attend its recent annual general meeting to learn more. Here are seven things I learnt from the MIT’s 2021 AGM. 1. Gross revenue increased 10.2% year-on-year to S$447.2 million in FY20/21, from S$405.9 million in FY19/20. Likewise, net property income (NPI) increased 10.4% year-on-year to S$351.0 million in FY20/21, from S$318.1 million in FY19/20. The growth was due to the consolidation of revenue from the 14 data centres in the U.S. — previously held under Mapletree Redwood Data Centre Trust – and a full-year contribution from 7 Tai Seng Drive....