On 28 July 2025, Mapletree Industrial Trust (“MIT”) have announced their first quarter results for FY2026. The metrics remain relatively unchanged, though DPU saw a decrease this quarter due to the absence of divestment gains and one-off compensation. Management has disclosed that excluding these adjustments, DPU from operations saw an increase when compared to the previous quarter. This can be seen from the increase in net property income and decrease in borrowing costs this quarter, which overall suggests underlying earnings strength.
Do note that the above does not include the financial performance of the joint venture. MIT’s joint venture is located in North America, where interest rates have continued to remain relatively high as compared to the rest of the world. This has continued to affect the results of the joint venture, as seen by the decrease in cash distribution declared by joint venture during the quarter.
As of the date of this article, the proposed divestment of three industrial…
