Mapletree Industrial : 3QFY2015/2016 - Financial Statement and Related Announcement
January 26, 2016 at 10:55 am
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Microsoft Word - 20160126_3QFY15_Financial Statement
(Constituted in the Republic of Singapore pursuant to a Trust Deed dated 29 January 2008 (as amended))
MAPLETREE INDUSTRIAL TRUST UNAUDITED FINANCIAL STATEMENT AND DISTRIBUTION ANNOUNCEMENT FOR THE FINANCIAL PERIOD FROM 1 OCTOBER 2015 TO 31 DECEMBER 2015 AND YEAR TO DATE FROM 1 APRIL 2015 TO 31 DECEMBER 2015
TABLE OF CONTENTS
Item No.
Description
Page No.
-
Summary Results of Mapletree Industrial Trust Group
2
-
Introduction
3
1(a)
Statement of Total Return and Distribution Statement (MIT Group)
4 - 7
1(b)(i)
Statement of Financial Position (MIT Group)
8
1(b)(ii)
Aggregate Amount of Borrowings and Debt Securities (MIT Group)
9
1(b)(i)
Statement of Financial Position (MIT)
10
1(c)
Statement of Cash Flows (MIT Group)
11 - 12
1(d)(i)
Statement of Movements in Unitholders' Funds (MIT Group)
13 - 14
1(d)(i)
Statement of Movements in Unitholders' Funds (MIT)
15 - 16
1(d)(ii)
Details of Any Change in Units
17
2 & 3
Audit Statement
17
4 & 5
Changes in Accounting Policies
17 - 18
6
Earnings Per Unit ("EPU") and Distribution Per Unit ("DPU")
18
7
Net Asset Value ("NAV") Per Unit
18
8
Review of the Performance
19 - 22
9
Variance from Prospect Statement
22
10
Outlook and Prospects
22 - 23
11 & 12
Distributions
23 - 24
13 & 14
Segment Information (MIT Group)
25
15
Breakdown of Revenue (MIT Group)
26
16
Breakdown of Total Distributions (MIT Group)
26
17
General Mandate relating to Interested Person Transactions
26
18
Confirmation by the Board
26
Summary Results of Mapletree Industrial Trust Group1 ("MIT Group")
3QFY15/16
2QFY15/16
Inc/(Dec)
%
3QFY14/15
Inc/(Dec)
%
Gross revenue (S$'000)
83,251
82,736
0.6
78,131
6.6
Net property income (S$'000)
61,879
61,027
1.4
57,976
6.7
Amount available for distribution (S$'000)
50,3082
48,907
2.9
45,951
9.5
No. of units in issue ('000)
1,785,062
1,770,286
0.8
1,732,299
3.0
Distribution per unit (cents)
2.822
2.79
1.1
2.67
5.6
Footnotes:
MIT Group comprises MIT and its wholly owned subsidiaries, Mapletree Singapore Industrial Trust ("MSIT") and Mapletree Industrial Trust Treasury Company Pte. Ltd. ("MITTC").
Amount available for distribution included an adjustment of S$0.6 million in relation to expenses which were disallowed by the Inland Revenue Authority of Singapore ("IRAS"). This represented a 0.03 cent increase in DPU for 3QFY15/16.
Introduction
Mapletree Industrial Trust ("MIT") is a Singapore-focused Real Estate Investment Trust listed on the Main Board of Singapore Exchange, with a large and diversified portfolio of industrial properties.
MIT Group's property portfolio, valued at S$3.4 billion as at 31 March 2015 comprises 84 industrial properties strategically located across Singapore. These industrial properties include Flatted Factories, Hi-Tech Buildings, Business Park Buildings, Stack-up/Ramp-up Buildings and Light Industrial Buildings.
MIT's distribution policy is to distribute at least 90.0% of its amount available for distribution, comprising substantially its income from the letting of its properties and related property services income after deduction of allowable expenses, as well as interest income from the periodic placement of cash surpluses in bank deposits.
1(a) Statement of Total Return and Distribution Statement (MIT Group) (3QFY15/16 vs 3QFY14/15)
Statement of Total Return
3QFY15/16
3QFY14/15
Increase/ (Decrease)
(S$'000)
(S$'000)
%
Gross revenue
83,251
78,131
6.6
Property operating expenses (Note A)
(21,372)
(20,155)
6.0
Net property income
61,879
57,976
6.7
Interest income
60
54
11.1
Borrowing costs (Note B)
(6,443)
(5,775)
11.6
Manager's management fees
- Base fees
(4,451)
(4,144)
7.4
- Performance fees
(2,228)
(2,087)
6.8
Trustee's fees
(127)
(121)
5.0
Other trust expenses
(457)
(391)
16.9
Total trust income and expenses
(13,646)
(12,464)
9.5
Total return for the period
48,233
45,512
6.0
Distribution Statement
Total return for the period
Adjustment for net effect of non-tax deductible items and other adjustments (Note C)
Amount available for distribution
3QFY15/16 (S$'000)
3QFY14/15 (S$'000)
Increase/ (Decrease)
%
48,233
2,075
45,512
439
6.0
372.7
50,308
45,951
9.5
Mapletree Industrial Trust issued this content on 26 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 January 2016 10:54:04 UTC
Mapletree Industrial Trust is a Singapore-based real estate investment trust. The principal activity of the Company and its subsidiaries is to invest in income-producing real estate used primarily for industrial purposes in Singapore and as data centers worldwide beyond Singapore, as well as real estate-related assets, with the primary objective of achieving sustainable returns from rental income and long-term capital growth. Its segments include Data Centers, Hi-Tech Buildings, Business Park Buildings, Flatted Factories, Stack-up/Ramp-up Buildings, and Light Industrial Buildings. Its portfolio comprises 56 properties in North America, 83 properties in Singapore, and one property in Japan. Its properties include 7 Tai Seng Drive, 1 & 1A Depot Close, 30A Kallang Place, 2A Changi North Street 2, 6 Norden Place, Norwalk, 180 Peachtree Street NW, Atlanta, 400 Minuteman Road, Andover, Kaki Bukit, Kampong Ampat, and others. Mapletree Industrial Trust Management Ltd. is the Company's manager.
MAPLETREE INDUSTRIAL TRUST 
