Mapletree Logistics Trust (MLT) and Suntec REIT were the first two major REITs to release results and we thought it would be worth looking at their contrasting results as it could be a preview for the other SREITs. Mapletree Logistics Trust First we look at the good set of results, MLT delivered 3Q23 and 9MFY23 distributions to its unitholders that were up 1.9% and 3.4% respectively. The higher distribution was on the back of a resilient operational performance, underpinned by stable occupancy rate of 96.9% and 2.9% positive rental reversions. MLT’s portfolio of assets in Australia, India and Vietnam are 100% occupied while Malaysia’s is at 99.7%. Occupancy rates remained strong in most countries and jurisdictions with the exception of China as the underperformed, recording a decline in occupancy rates from 93.3% in Sep 22 to 92.4% in Dec 22.

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