Mapletree Logistics Trust has announced a total amount distributable of $31.5 million for 3Q 2010, an improvement of 9.5% compared with 3Q 2009.

In 3Q 2010, MapletreeLog’s revenue of $54.5 million recorded an increase of 7.4% from $50.8 million in 3Q 2009 and NPI for 3Q 2010 has also increased to $47.6 million, up 8.1% from $44.1 million in 3Q 2009.

Key contributors to the growth in revenue are the 10 yield accretive properties that were acquired during the past 12 months in Singapore, Japan, South Korea and Vietnam. With these yield accretive properties in MapletreeLog’s portfolio, the Trust’s portfolio book value as at 30 September 2010 has increased to $3.4 billion from $2.9 billion for the same period last year.

Occupancy rate in Hong Kong and Malaysia increased by 5% and 3% respectively. Together with better rental reversions across the portfolio, MapletreeLog enjoyed a positive organic growth of 0.32% for 3Q 2010. The better performance translates to a higher DPU of 1.54 cents in 3Q 2010, which is 4.1% higher compared to the DPU of 1.48 cents in 3Q 2009.

As at 30 September, the trust’s portfolio consists of 91 properties. Of the 91 properties, 50 are in Singapore, 13 in Japan, 11 in Malaysia, 8 in Hong Kong, 6 in China, 2 in South Korea and 1 in Vietnam. Singapore, Japan and Hong Kong contribute 90% of the trust’s NPI.