Mapletree Industrial Trust (MIT) is an SGX-listed REIT with a diversified portfolio of 143 properties including 86 based in Singapore and 57 in North America. As of 31 March 2022, MIT’s total assets under management was S$8.8 billion. In view of the current uncertain economic landscape, tightening monetary measures, and geopolitical uncertainties, I was curious about MIT’s performance and its management’s outlook on the year ahead. To learn more, I attended MIT’s recent annual general meeting. Here are eight things that I’ve learned from 2022 Mapletree Industrial Trust AGM. 1. Gross revenue increased 36.4% year-on-year (y-o-y) to S$610.1 million and net property income (NPI) grew 34.5% y-o-y to S$472.0 million. According to Ler Lily, chief financial officer of MIT, the impressive performance was a result of better returns from MIT’s Singapore portfolio and its enlarged North American portfolio. MIT benefitted from having new income streams from 29 U.S. data centres acquired in July 2021 as well as full-year income contributions...