MAPLETREE INDUSTRIAL TRUST (Constituted in the Republic of Singapore pursuant to a Trust Deed dated 29 January 2008 (as amended))
MAPLETREE INDUSTRIAL TRUST UNAUDITED FINANCIAL STATEMENT AND DISTRIBUTION ANNOUNCEMENT FOR THE FINANCIAL PERIOD FROM 1 OCTOBER 2016 TO 31 DECEMBER 2016 AND YEAR TO DATE FROM 1 APRIL 2016 TO 31 DECEMBER 2016 TABLE OF CONTENTSItem No. | Description | Page No. |
- | Summary Results of Mapletree Industrial Trust Group | 2 |
- | Introduction | 3 |
1(a) | Statement of Total Return and Distribution Statement (MIT Group) | 4 - 7 |
1(b)(i) | Statement of Financial Position (MIT Group) | 8 |
1(b)(ii) | Aggregate Amount of Borrowings and Debt Securities (MIT Group) | 9 |
1(b)(i) | Statement of Financial Position (MIT) | 10 |
1(c) | Statement of Cash Flows (MIT Group) | 11 - 12 |
1(d)(i) | Statement of Movements in Unitholders' Funds (MIT Group) | 13 - 14 |
1(d)(i) | Statement of Movements in Unitholders' Funds (MIT) | 15 - 16 |
1(d)(ii) | Details of Any Change in Units | 17 |
2 & 3 | Audit Statement | 17 |
4 & 5 | Changes in Accounting Policies | 17 - 18 |
6 | Earnings Per Unit ("EPU") and Distribution Per Unit ("DPU") | 18 |
7 | Net Asset Value ("NAV") Per Unit and Net Tangible Asset ("NTA") Per Unit | 18 |
8 | Review of the Performance | 19 - 22 |
9 | Variance from Prospect Statement | 22 |
10 | Outlook and Prospects | 22 - 23 |
11 & 12 | Distributions | 23 - 24 |
13 & 14 | Segment Information (MIT Group) | 25 |
15 | Breakdown of Revenue (MIT Group) | 26 |
16 | Breakdown of Total Distributions (MIT Group) | 26 |
17 | General Mandate relating to Interested Person Transactions | 26 |
18 | Confirmation pursuant to Rule 720(1) of the Listing Manual | 26 |
19 | Confirmation by the Board | 26 |
3QFY16/17 | 2QFY16/17 | Inc/(Dec) % | 3QFY15/16 | Inc/(Dec) % | |
Gross revenue (S$'000) | 84,453 | 84,208 | 0.3 | 83,251 | 1.4 |
Net property income (S$'000) | 63,429 | 63,630 | (0.3) | 61,879 | 2.5 |
Amount available for distribution (S$'000) | 51,104 | 50,594 | 1.0 | 50,3082 | 1.6 |
No. of units in issue ('000) | 1,801,845 | 1,801,552 | * | 1,785,062 | 0.9 |
Distribution per unit (cents) | 2.83 | 2.83 | - | 2.822 | 0.4 |
* Increase less than 0.1%
Footnotes:1 MIT Group comprises MIT and its wholly owned subsidiaries, Mapletree Singapore Industrial Trust ("MSIT") and Mapletree Industrial Trust Treasury Company Pte. Ltd. ("MITTC").
2 Amount available for distribution included an adjustment of S$0.6 million in relation to expenses which were disallowed by the Inland Revenue Authority of Singapore ("IRAS"). This represented a 0.03 cent increase in DPU for 3QFY15/16.
IntroductionMIT is a Singapore-focused Real Estate Investment Trust listed on the Main Board of Singapore Exchange, with a large and diversified portfolio of industrial properties.
MIT Group's property portfolio, valued at S$3.6 billion as at 31 March 2016 comprises 85 industrial properties strategically located across Singapore. These industrial properties include Flatted Factories, Hi-Tech Buildings, Business Park Buildings, Stack-up/Ramp-up Buildings and Light Industrial Buildings.
MIT's distribution policy is to distribute at least 90.0% of its amount available for distribution, comprising substantially its income from the letting of its properties and related property services income after deduction of allowable expenses, as well as interest income from the periodic placement of cash surpluses in bank deposits.
1(a) Statement of Total Return and Distribution Statement (MIT Group) (3QFY16/17 vs 3QFY15/16)
Statement of Total Return | 3QFY16/17 | 3QFY15/16 | Increase/ (Decrease) |
Gross revenue | (S$'000) | (S$'000) | % |
84,453 | 83,251 | 1.4 | |
Property operating expenses (Note A) | (21,024) | (21,372) | (1.6) |
Net property income | 63,429 | 61,879 | 2.5 |
Interest income | 71 | 60 | 18.3 |
Borrowing costs (Note B) | (6,948) | (6,443) | 7.8 |
Manager's management fees | (4,667) | (4,451) | 4.9 |
- Base fees | |||
- Performance fees | (2,283) | (2,228) | 2.5 |
Trustee's fees | (132) | (127) | 3.9 |
Other trust expenses | (308) | (457) | (32.6) |
Total trust income and expenses | (14,267) | (13,646) | 4.6 |
Total return for the period | 49,162 | 48,233 | 1.9 |
Distribution Statement | 3QFY16/17 | 3QFY15/16 | Increase/ (Decrease) |
Total return for the period | (S$'000) | (S$'000) | % |
49,162 | 48,233 | 1.9 | |
Adjustment for net effect of non-tax deductible items and other adjustments (Note C) | 1,942 | 2,075 | (6.4) |
Amount available for distribution | 51,104 | 50,308 | 1.6 |
Mapletree Industrial Trust published this content on 24 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 January 2017 11:43:04 UTC.
Original documenthttp://www.mapletreeindustrialtrust.com/~/media/MIT/Newsroom/Announcements/2017/Jan/20170124_3QFY1617_Financial_Statement.ashx
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