Mapletree Pan Asia Commercial Trust (MPACT) was formed following the merger of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) in 2022. MPACT operates as a REIT that owns a portfolio of 18 commercial properties across Singapore, Hong Kong, China, Japan, and South Korea. As of 31 March 2023, MPACT is among the top 10 REITs in Asia by market capitalisation at S$9,431 million, with a total property portfolio valued of S$16,576 million. I was curious about MPACT’s post-merger performance and the management outlook to overcome the current uncertain macroeconomic environment. To learn more, I attended its annual general meeting. Here are the eight things that I learned from the 2023 Mapletree Pan Asia Commercial Trust AGM.

1. Gross revenue grew 65.4% year-on-year (y-o-y) to S$826.2 million and net property income (NPI) increased 62.6% y-o-y to S$631.9 million in FY22/23. This outstanding growth was primarily driven by the contribution from

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