NewsColony

NewsColony Mapletree Logistics Trust’s NPI rose 12.6% to $438.54M in FY2020 © Provided by Singapore Business Review Existing properties posted higher revenues. Mapletree Logistics Trust’s (MLT) net property income (NPI) grew 12.6% YoY to $438.54m for FY2020, from $389.47m in 2019, the company announced. Gross revenue increased by 8% to $490.78m over the same period. Gross revenue rose on the back of higher revenue from existing properties, completed redevelopment of Mapletree Ouluo Logistics Park Phase 1, acquisitions in Singapore, Australia, South Korea Malaysia, Vietnam and Japan, and higher translated revenue from the stronger Japanese Yen and Hong Kong Dollar. However, this was partly offset by absence of revenue from six divestments completed in FY2020 and two divestments completed in FY2019, as well as the impact of a weaker Australian Dollar, Korean Won and Chinese Renminbi. Furthermore, distributable income also rose to $301.71m in the fiscal year, a 11.7% YoY expansion...