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SGX:M44U

7 stories mentioning SGX:M44UUpdated 10d ago

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Treasury

Mapletree Logistics Trust Prices SG$400 Million Perpetual Securities

Mapletree Logistics Trust (SGX:M44U) has priced SG$400 million in subordinated perpetual securities at 3.5%, according to a Tuesday filing to the Singapore stock exchange.Shares of the logistics real estate investment trust were down nearly 1% in Wednesday's trade.The perpetual securities have no fixed redemption date. The initial distribution rate of 3.5% per annum applies from Aug. 12 through Aug. 12, 2031, after which the rate will reset.Proceeds from the issuance will be used for general corporate and working capital.The Series 015 Perpetual Securities are rated BBB- by Fitch.

SGX:M44U
Asia

Fitch Affirms Mapletree Logistics Trust's BBB+ Rating, Stable Outlook

Fitch Ratings has affirmed Mapletree Logistics Trust's (SGX:M44U) Long-Term Issuer Default Rating (IDR) at 'BBB+' with a 'stable' outlook, according to a Friday statement.The ratings agency has also affirmed the 'BBB+' rating on the unsecured notes issued by the company's wholly-owned subsidiary, MapletreeLog Treasury Company, and affirmed the 'BBB-' rating on the company's perpetual securities.The ratings affirmation is driven by the company's high-quality, geographically diversified portfolio of logistics assets and its large scale.Fitch noted rating headroom remains limited due to persistently high EBITDA net leverage, with significant deleveraging unlikely as the trust continues portfolio rejuvenation. However, its geographic diversification should support stable cash flows and positive rent reversions despite weakness in China.The company's shares were down nearly 1% in recent trade.

SGX:M44U
Asia

Mapletree Logistics Trust DPU Edges Up in Fiscal Q1

Mapletree Logistics Trust's (SGX:M44U) fiscal first-quarter available distribution per unit or DPU was slightly up to SG$0.01816 from SG$0.01812 a year earlier, according to a Tuesday filing with the Singapore Exchange.The total amount distributable in the three months ended June 30 rose to SG$98.6 million from SG$97.6 million a year prior.Net property income came in at SG$156.4 million, compared with SG$153.4 million in the year-ago period. The logistics asset manager's gross revenue rose to SG$178.9 million from SG$177.4 million.

SGX:M44U
Asia

Mapletree Logistics Trust to Divest China Logistics Parks to New RMB Fund

Mapletree Logistics Trust's (SGX:M44U) subsidiaries signed conditional sale-and-purchase agreements to divest equity interests in Chinese entities that hold logistics properties in Wuxi, China, to a new renminbi fund led by its sponsor, Mapletree Investments.The properties include the Mapletree (Wuxi) Logistics Park valued at 180 million yuan with a 45,084 square meters net lettable area and the Mapletree Wuxi New District Logistics Park worth 544 million yuan with a 122,403 square meters net lettable area.Proceeds from the divestment are expected to be received within six months of the SPA signing.

SGX:M44U
Asia

Mapletree Logistics Trust to Divest Changi Property to CS Ceramiche

Mapletree Logistics Trust (SGX:M44U) signed an option agreement with CS Ceramiche for the proposed divestment of 39 Changi South Avenue 2 in Singapore for SG$16.6 million, according to a Wednesday filing with the Singapore bourse.The property is a three-story cargo lift warehouse with an ancillary office and has a net lettable area of around 6,129 square meters.The divestment is expected to be concluded during the third quarter of the year.

SGX:M44U
Research

OCBC Upgrades Mapletree Logistics Trust to Buy from Hold, Price Target is SG$1.36

Mapletree Logistics Trust (SGX:M44U) has an average rating of overweight and mean price target of SG$1.39, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SGX:M44U
Asia

Mapletree Logistics Trust's DPU Declines 7% in Fiscal Q4

Mapletree Logistics Trust's (SGX:M44U) available distribution per unit or DPU dropped 7% in the fiscal fourth quarter ended March 31 to SG$0.01819, from SG$0.01955 a year earlier, according to a Thursday filing with the Singapore Exchange.Amount distributable to unitholders was down by 6.1% to SG$93 million from SG$99.1 million a year earlier.Net property income edged down 0.9% to SG$151.4 million from SG$152.8 million in the year-ago period, while gross revenue fell 1.7% year over year to SG$176.6 million from SG$179.6 million.Meanwhile, portfolio occupancy rose to 96.9% as at March 31 from 96.4% in the previous quarter, thanks to higher occupancies in Singapore, China, Hong Kong, Japan and South Korea. The weighted average lease expiry of the portfolio by net lettable area was 2.5 years.

SGX:M44U

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