MPACT Q1 DPU dips 2.5% as overseas weakness offsets growth

Singapore NPI rose 1% on higher contributions from VivoCity.

Mapletree Pan Asia Commercial Trust’s (MPACT) distribution per unit stood at 1.96 cents in the first quarter of FY26/27, down 2.5% from 2.01 cents a year earlier.

The amount available for distribution declined 2.4% to $104.2m, whilst gross revenue fell 5.6% to $206.5m, according to a bourse filing.

Net property income (NPI) decreased 6.8% to $154.8m.

The trust’s manager, MPACT Management Ltd, said results were weighed down by weaker overseas contributions, a stronger Singapore dollar against the Hong Kong dollar and yen, and the absence of income from assets divested in FY25/26.

Meanwhile, Singapore gross revenue and NPI rose 2.1% and 1%, respectively, due to VivoCity’s higher contribution following the completion of its Basement 2 asset enhancement works and continued rental growth.

VivoCity’s NPI increased 8.9%, with rental reversion at 13.5%. Tenant sales rose 4.9%, whilst shopper traffic increased 5.0%. The mall maintained near-full committed occupancy.

MPACT’s finance expenses fell 18.4% to $40.9m due to lower interest rates and debt reduction using divestment proceeds.

Portfolio rental reversion stood at 4.3%, whilst committed occupancy was 84.4% as at end-June.

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