Mapletree Logistics Trust's net property income up 2.9% to $70.3m in Q4

On back of its enlarged portfolio.

Mapletree Logistics Trust reported that its net property income grew 2.9% year-on-year to $70.3m in the fourth quarter, thanks to its enlarged portfolio, contribution from Mapletree Benoi Logistics Hub and higher contribution form existing assets.

The quarter’s performance was partially impacted by downtime at several Singapore properties that
were converted from single-user assets to multi-tenanted buildings during the year.

The conversions led to lower occupancy and revenue at these properties during the transition,
and higher property expenses

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