| Dividend Yield | 5.48% |
| P/B Ratio | 0.82 |
| Aggregate Leverage Ratio | 37.9 |
| Occupancy Rate | 89.3% |
| WALE | 2.3 year(s) |
| Interest Coverage Ratio | 2.9 times |
| Fixed Rate Debt | 77.7% |
| Ex-dividend Date | 6 Aug 2025 |
| Record Date | 7 Aug 2025 |
| Payout Date | 11 Sep 2025 |
| Type | Office & Retail |
Remarks
MPACT's debt profile was relatively stable in 1Q FY25/26. The aggregate leverage ratio increased slightly to 37.9%. The adjusted ICR strengthened slightly to 2.9x.
David Ang - 31 Jul 2025In 1Q FY25/26, we started to see the borrowing cost improving, declining to 3.32% (down from 3.51% and 3.52% in the previous two quarters).
David Ang - 31 Jul 2025The debt maturity profile is relatively well-staggered, with 6% due in FY25/26 and approximately 9% due in FY26/27. Should the interest rate stay elevated for the next two years, MPACT may need to refinance these loans at higher rates. That said, we may have entered a new rate-cut cycle. Therefore, there is a good chance that the refinancing rates will not increase higher than they are today. However, it is a potential risk that investors must be aware of.
David Ang - 31 Jul 2025MPACT reported a disappointing 1Q FY25/26 result. Gross revenue declined by -7.6%, NPI by -7.5%, and DPU by -3.8%. This follows the also disappointing result from the previous quarter.
The lower revenue was contributed by Mapletree Anson's divestment and the lower occupancy of its Japanese & China properties.
David Ang - 31 Jul 2025This REIT has a ~42% exposure to the slowing markets of China, Hong Kong, and Japan. The property sector in those regions is under pressure, impacting MPACT's asset value. Rental reversion in those regions also remained negative in 1Q FY25/26, with the HK property experiencing a -7.9% decline in rental reversion, a -19.4% decline for China properties, and a flat 0.4% increase for its Japan properties.
David Ang - 31 Jul 2025Geographical Exposure
| Singapore | 57% |
| Hong Kong | 26% |
| China | 9% |
| Japan | 7% |
| South Korea | 2% |
Sectoral Exposure
| Office | 54.4% |
| Retail | 45.6% |
Dividend Distribution History (DPU)
Debt Maturity Profile
In $ millions
Show debt maturity profile details
| Fiscal Year | Debt (in $ millions) | Percentage |
|---|---|---|
| FY25/26 | 360 | 6% |
| FY26/27 | 538 | 9% |
| FY27/28 | 1,304 | 22% |
| FY28/29 | 1,413 | 23% |
| FY29/30 | 1,353 | 22% |
| FY30/31 | 690 | 12% |
| FY31/32 | 200 | 3% |
| FY33/34 | 200 | 3% |
Disclaimer: We do not guarantee the data above is accurate. The information presented here is for general information only. It is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice or recommendation of any sort. Please do your own research before investing.