On 24th July 2024, Mapletree Logistics Trust released their 1QFY24/25 financial results. As you can see from above, Mapletree Logistics Trust has been divesting their assets with older specifications and of limited redevelopment potential as part of portfolio rejuvenation. In 1QFY24/25, Mapletree Logistics Trust also completed the acquisitions from its Sponsor of three modern, Grade A assets in Malaysia and Vietnam.
Previously, the manager of Mapletree Logistics Trust shared that they expect negative rental reversions in China over the next few quarters as the expiring rental rates are marked to market. Can its diversified portfolio across other countries mitigate the weaker performance in China? Let us find out more below.
Mapletree Logistics Trust 1QFY24/25 Financial Results
In 1QFY24/25, Mapletree Logistics Trust’s gross revenue was 0.3% lower year-on-year. This was due to lower contribution from China, absence of revenue contribution from divested properties and currency weakness (mainly JPY and CNY). The loss was mitigated by...