Manulife H2 2021 a miss: Maybank

But improvements in operations were seen due to strong leasing momentum.

Manulife US Reit’s second half of 2021 was reported to be a miss, according to a report published by Maybank.

A distribution per unit of 1.5% year-on-year (YoY), and -2.6% half-on-half (HoH), was seen in the period.

Factors for this performance include higher rental abatements, lower carpark income, and higher vacancies.

Despite this, however, operations improvements were seen in the same period due to strong leasing momentum and positive rental reversion guidance.

Portfolio occupancy rose to 92.3%, up from the third quarter of 2021’s 90.9%. This was due to its three new properties, Diablo Technology Park, Tanasbourne Commerce Center, and Park Place.

Due to new assets acquired by the group, an increase in assets under management was found at 11% HoH, as well as a gearing of 42.1%/ The gearing, in particular, was found to be at a historical high due to these acquisitions and an estimated $333m in debt headroom.

Follow the link s for more news on

Manulife

Maybank

commercial property

Singapore

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia