MPACT’s net property income climbs 1.7% YoY to $182.4m in 3Q23/24
The strong performance of the REIT’s Singapore portfolio contributed to the increase.
The net property income (NPI) of Mapletree Pan Asia Commercial Trust (MPACT) grew 1.7% YoY to $182.4m in 3Q23/24.
In a bourse filing, MPACT attributed its positive results to the strong performance of its Singapore portfolio and steady contributions from its Hong Kong and Japan assets.
Despite recording a higher NPI, MPACT saw a 9.1% YoY drop in its distribution per unit, falling to $0.0220.
MPACT said its DPU was “tempered by higher interest rates and the absence of a one-off cross-currency interest rate swap (CCIRS) gain.