The manager of Mapletree Commercial Trust (MCT) has reported gross revenue of $348.7 million for the 3QFY2020/2021 ended December some 1.9% lower y-o-y.

3QFY2020/2021 net property income (NPI) also fell 1.2% y-o-y to $275.9 million.

Year-to-date (y-t-d) FY2020/2021 or 9MFY2020/2021 gross revenue and NPI contracted 29.1% and 30.1% respectively y-o-y, mainly due to the rental rebates that were given out to the REIT’s tenants.

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