Mapletree North Asia Commercial Trust (MNACT) has announced distribution per unit of 3.426 cent for its 1HFY2021 ended Sept 30. This is an increase of 19.1% y-o-y over 2.876 cents paid this time last year.
The higher distribution is due to improvement in the performance of its portfolio.
Gross revenue for the same period was up 13.3% y-oy to $215.4 million. Net property income, meanwhile, was up 15.8% y-o-y to $161.9 million, due to lower rental reliefs given to its tenants, specifically those of Festival Walk mall in Hong Kong, its most valuable asset.