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MCT's revenue and net property income down in its nine-months year-to-date results

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IN A business update, Mapletree Commercial Trust (MCT) said on Wednesday after trading hours that its year-to-date gross revenue and net property income (NPI) for FY20/21 are down 1.9 per cent and 1.2 per cent respectively on the back of Covid-19 rental rebates for eligible tenants. Read more at The Business Times.

As for its office and business park assets, year-to-date FY20/21 gross revenue and NPI were up 21.8 per cent and 22.6 per cent.

The average term to maturity was 4.4 years and the gearing ratio, at 34 per cent. The weighted average all-in cost of debt was 2.51 per cent per annum and the interest coverage on a 12-month trailing basis was about 4.2 times. "The sector will continue to remain under pressure and market recovery could be long and uneven," it said.

 

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