| Dividend Yield | 5.88% |
| P/B Ratio | 0.83 |
| Aggregate Leverage Ratio | 40.5 |
| Occupancy Rate | 94% |
| WALE | 2.5 year(s) |
| Interest Coverage Ratio | 2.8 times |
| Fixed Rate Debt | 78.9% |
| Ex-dividend Date | 6 Aug 2024 |
| Record Date | 7 Aug 2024 |
| Payout Date | 12 Sep 2024 |
| Type | Office & Retail |
Remarks
MPACT's debt profile was relatively stable in 1Q FY24/25. The aggregate leverage ratio was steady at 40.5%. However, the adjusted ICR declined slightly from 2.9x to 2.8x.
David Ang - 30 Jul 2024The debt maturity profile is relatively well-staggered. However, 13% is due for FY24/25 and ~17% is due in FY25/26. Should the interest rate stay elevated for the next two years (or even higher), MPACT may need to refinance these loans at higher rates. That said, we do not think the rates will go much higher from here, but it is a potential risk that investors need to be aware of, given the rising leverage ratio in the past several quarters.
David Ang - 30 Jul 2024MPACT valuation is starting to become attractive, with a dividend yield close to 7% and a relatively low P/B ratio of 0.72. However, a Greater China/HK regional risk seems to be baked into the REIT as around 36% of its AUM is based in the region.
David Ang - 30 Jul 2024This REIT has a 36% exposure to the China and Hong Kong markets, which are currently experiencing a slowdown. The property sector in that region is currently under pressure, which is impacting the asset value of MPACT.
David Ang - 29 Jan 2024Geographical Exposure
| Singapore | 55% |
| Hong Kong | 26% |
| China | 10% |
| Japan | 8% |
| 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 |
|---|---|---|
| FY24/25 | 861 | 13% |
| FY25/26 | 1,173 | 17% |
| FY26/27 | 1,243 | 18% |
| FY27/28 | 871 | 13% |
| FY28/29 | 1,146 | 17% |
| FY29/30 | 1,326 | 19% |
| 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.