Mapletree Commercial Trust (MCT)

Analysts keep 'hold' calls on Mapletree Commercial Trust despite accretive MBC 2 acquisition

SINGAPORE (Oct 17): Analysts from OCBC Investment Research and Maybank Kim Eng Research are maintaining their “hold” calls on Mapletree Commercial Trust (MCT), despite the trust progressing with its proposed acquisition of Mapletree Business City (Phase 2) (MBC 2), which is expected to be NPI, DPU and NAV per unit accretive.

MCT earlier this week obtained unitholders’ approval for the proposed acquisition.

IMF cuts global GDP forecast; Rex shares spike on oil discovery

SINGAPORE (Oct 21): Although the ongoing trade war between the US and China has offered glimpses of optimism, the global economy remains largely fractured and shows signs of sinking deeper into the doldrums.

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REIT fundraisings continue with MCT, KORE raising equity through private placements

SINGAPORE (Oct 21): To date, real estate investment trusts are likely to have raised more than $4.3 billion in “follow-ons” such as placements and preferential equity offerings, and excluding IPOs. 

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Mapletree Commercial Trust launches equity fund raising to raise more than $902 mil to help fund MBC 2 acquisition

SINGAPORE (Oct 16): The manager of Mapletree Commercial Trust (MCT) has proposed an equity fund raising to raise gross proceeds of no less than $902.3 million.

This comes after unitholders on Tuesday approved the proposed $1.58 billion acquisition of Mapletree Business City (Phase 2) (MBC 2) along with the common premises.

The equity fund raising will comprise an offering of a total of 406.5 million new units in MCT via a private placement and a preferential offering.

Mapletree Commercial Trust posts 2.2% rise in 2Q DPU to 2.32 cents

SINGAPORE (Oct 15): The manager of Mapletree Commercial Trust (MCT) has reported distribution per unit (DPU) of 2.32 cents for the 2Q19/20 ended September, some 2.2% higher than DPU of 2.27 cents in 2Q18/19.

This brings DPU for 1H19/20 to 4.63 cents, up 2.9% from 4.50 cents in 1H18/19.

2Q19/20 gross revenue rose 1.9% to $112.0 million, from $109.9 million a year ago.

This was on the back of higher contributions from the trust’s properties at VivoCity, Mapletree Business City 1 (MBC 1), PSA Building and Bank of America Merrill Lynch HarbourFront.

Mapletree Commercial Trust cut to 'hold' despite bullish sentiment over MBC acquisition

SINGAPORE (Sept 30): Analysts are bullish on Mapletree Commercial Trust (MCT), after the REIT announced Friday it is acquiring Mapletree Business City (Phase 2) for a total of $1.58 billion.

Together with Mapletree Business City (Phase 1), which was acquired by the trustee in 2016, this will see MCT consolidate its ownership over the entire Mapletree Business City Development.

The accretive acquisition will see MCT dominate the 13.5-hectare Alexandra precinct, which lies just outside Singapore’s central business district in the Queenstown Planning Area.

Mapletree Commercial Trust to acquire Mapletree Business City (Phase 2) for $1.58 bil

SINGAPORE (Sept 27): Mapletree Commercial Trust (MCT) is acquiring Mapletree Business City (Phase 2) and the adjacent common premises Pasir Panjang Road in Singapore from a direct wholly-owned subsidiary of sponsor Mapletree Investments for $1.58 billion, including acquisition-related expenses.

The agreed property value, arrived at on a willing-buyer and willing-seller basis after taking into account two independent valuations, was $1.55 billion.

MCT intends to fund through a combination of debt and equity.

Mapletree's trio dominates real estate investment trust sector

SINGAPORE (Sept 16): In the last 20 years, the growing universe of real estate investment trusts — with its track record of comparative stability and steady returns and a combined market value of about $100 billion — has helped the Singapore Exchange become a global hub for REITs to list. 

Still, despite the entry of more foreign players, the Singapore-based plays have held their own. For this year’s Billion Dollar Club awards, the Mapletree family made a clean sweep in the REITs and business trusts sector.

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All 4 Mapletree REITs poised to thrive despite market uncertainties

SINGAPORE (Sept 11): Despite investors’ concerns over the impact of geopolitical events such as the US-China trade war and protests in Hong Kong, Mapletree’s suite of four real estate investment trusts seem well placed to turn the uncertainties to their advantage instead.

Market watchers believe all four Mapletree REITs – Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MINT), Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) – remain well positioned in the near term.

'New dawn' for Mapletree Commercial Trust as it replaces HPHT in ST Index

SINGAPORE (Sept 9): Mapletree Commercial Trust (MCT) has earned a spot on the benchmark Straits Times Index (STI), on the back of robust growth numbers as well as steady increase in revenue and shareholder returns.

For 1Q19/20 ended June, the REIT reported a 3.6% rise in DPU to 2.31 cents, compared to 2.23 cents in 1Q18/19. Income available for distribution rose 4.1% to $67.2 million, from $64.6 million last year.

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