Mapletree Industrial Trust's DPU surged 7.9% to $0.0247

Distributable income also up 9.7%.

According to OSK, Mapletree Industrial Trust reported a second-quarter distribution per unit of SGD0.0247 which is 7.9% increase as compared to SGD0.0229 a year earlier on higher rental and occupancies. 

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Distributable income rose 9.7% year on year to SGD41.1m and its portfolio of 83 properties are valued at SGD2.9b.

Gross revenue increased 7.6% to SGD73.4m in quarter two combined with lower property operating expenses and drove net property income growth of 11.6% to SGD54m. It expects rental income to increase from the two projects, mainly its build-to-suit development for Kulicke and Soffa and K&S corporate headquarters at Serangoon North Avenue 5.