Mapletree revises DPU forecast ahead of anticipated lower occupancies in China properties

Gross revenue in the quarter dropped 7.4% YoY to $223.7m.

Mapletree Pan Asia Commercial Trust has trimmed its distribution per unit (DPU) forecast for 2025 and 2026 by 1% due to expectations of lower occupancies for Gateway Plaza in Beijing and Sandhill Plaza in Shanghai.

The company has declared a DPU of $0.02 for the third quarter of 2024, a 9.1% year-on-year (YoY) decrease.

Gross revenue in the quarter dropped 7.4% YoY to $223.7m, whilst net property income (NPI) also fell 8.5% YoY to $166.9m.

This primarily stemmed from the divestment of Mapletree Anson’s and lower overseas contributions further dampened by the continued strength of the Singapore dollar.

Moreover, the amount distributable to shareholders during the quarter fell 9.2% YoY to $104.7m whilst cash and cash equivalents stood at $142.7m.

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