Mapletree North Asia Commercial Trust has announced their 3QFY19/20 financial results on 17th January 2020. As expected, gross revenue fell 36.3% to S$67.3m as compared to S$105.6m in 3QFY18/19. Net Property Income also fell 40% to S$50.8m. Distribution fell 13.3% to 1.671 cents. The DPU already included the distribution top up due to Festival Walk closure. Without the top up, the DPU can be worst.
Due to the damages from the riots, Festival Walk has been closed since 13 November 2019. With the mall closure, rental was not collected from the retail tenants. The mall has re-opened and collection of rental resume on 16th January 2020.3QFY19/20 Financial Results
|Net Property Income||50,776||84,592||(40.0)%|
|Distribution Per Unit (“DPU”) (cents)||1.671||1.927||(13.3)%|