Mapletree Logistics Trust (OTCPK:MAPGF) Q2 2025 Earnings Conference Call October 22, 2024 9:30 PM ET
Company Participants
Yuen May – IR Manager
Charmaine Lum – CFO
James Sung – Head, Asset Management & Marketing
Jean Kam – ED and CEO
Conference Call Participants
Mervin Song – JPMorgan
Derek Tan – DBS
Brandon Lee – Citigroup
Joy Wang – HSBC Global Research
Yuen May
Hi, good morning. This is Yuen May here. Welcome to MLP’s Second Quarter Results for the Financial Year ending March 2025.
I’ll now hand over the session to Charmaine, who will kick off the presentation.
Charmaine Lum
Hi, good morning everyone. We’ll quickly go through the key highlights for the quarter before going into details of the financial results.
Key highlights. Okay, so for the quarter, our gross revenue is 1.8% lower year-on-year at S$183.3 million. NPI is 2.1% lower year-on-year at S$158.6 million. And DPU is 10.6% lower, S$2.027. Portfolio occupancy remains stable at 96% with an average rental reversion of a negative 0.6% mainly due to our China portfolio. Excluding the China portfolio, our rental reversion is a positive 3.6%. WALE remains stable at [technical difficulty]. Aggregate leverage at 40.2%, higher than 39.6% against last quarter mainly because of the strengthening of the JPY as well as lower fair value on our financial derivatives.
Our debt hedged has a fixed rate at 84% that means debt maturity of 3.6 years and income for the next 12 months 77% has been hedged into Sing dollar or is divided into Sing dollar.
We have three properties in Malaysia where we announced divestment and spending contract share. A total of about S$50 million and what we completed during the quarter would be one property in Singapore and one property in Malaysia. We also proactively issued $180 million of perps at 4.3% and
Read the full article here
