Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion

Mapletree Investments released a 6.2% y-o-y increase in net return to $1.96 billion for the 12 months to March 31, its FY2022, consisting of $1.1 billion in asset revaluation gains. Removing revaluation increases, recurring profits increased 27.9% y-o-y to $810.2 million.

Throughout the FY, Mapletree increased US$ 2 billion from exclusive funds, with the successful syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million office fund in the US, as well as Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund additionally in the United States. In terms of funding recycling, the group divested $946 million of logistics assets to Mapletree Logistics Trust.

As at March 31, 2022, the group’s cash reserves ranked at $2,070.4 million as well as its unpaid debt to equity ratio lowered by 2.2 portion suggest 58.3%. Investor’s funds have also boosted by 10.5% y-o-y to $19,519.9 million, largely because of better Patmi in FY2022.

Furthermore, Mapletree improved its worldwide logistics presence with its first logistics land acquisition in India, a 49.7-acre spot in Hoskote, Bengalaru with an advancement opportunity of 107,941 square metres in total GFA. The group likewise increased its international logistics AUM with two portfolio buys in the US at around US$ 3 billion ($4 billion).

Pasir Ris 8 Allgreen Properties Limited

In FY2022, Mapletree broadened its school rental portfolio with a number of purchases in the UK and United States. As at March 31, the group’s school accommodation portfolio sums up 57 possessions with over 24,000 beds all over 38 cities in Canada, the UK as well as the US. Mapletree likewise made many vital acquisitions of business assets in the US, China and Japan, at a complete transactional price of approximately $704 million.

Possessions under management rose by $12.4 billion to $78.7 billion. Return went up 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and shared projects developed by 9.5% to $2,040.1 million, primarily due to its four Singapore-listed REITs and contributions from latest procurements in the US and also Europe. ROE sustained at above 10%.

Mapletree had 2 outstanding M&A s. Unitholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) voted extremely for the plan of setup, as well as MCT unitholders additionally voted in favour of the change in fee framework. Anywhere else, Mapletree was part of a consortium, Cuscaden Height, that received Singapore Press Holdings.

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