The manager of Mapletree North Asia Commercial Trust (MNACT) has reported distribution per unit (DPU) of 2.876 cents for the 1HFY2020/2021, a 26% drop from DPU of 3.887 cents reported a year ago.

Gross revenue for the half-year period fell 9.6% y-o-y to $190.1 million mainly due to the rental reliefs granted to tenants at Festival Walk, which amounted to some $34.9 million.

The decline was partially offset by the half-year contributions from the acquisitions of MBP and Omori in February 2020 and the higher average rates of the HKD, JPY and RMB against the SGD.

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