MPACT's NPI slips 2.2% in Q2

VivoCity’s full occupancy and rental gains offset weaker overseas income.

Mapletree Pan Asia Commercial Trust (MPACT) reported its net property income fell 2.2% year on year to $163.9m in the second quarter of financial year 2025/26.

The company's revenue also declined by 3.2% year on year to $218.5m, which it largely attributed to lower overseas contributions and te absence of full period contributions from TS Ikebukuro Building and ABAS Shin-Yokohama Building.

The Singapore portfolio remained the trust’s key driver, led by VivoCity, which maintained full occupancy and higher rental rates. Overall portfolio occupancy stood at 88.9%.

MPACT said its aggregate leverage ratio improved to 37.6%, whilst the average cost of debt eased to 3.23%, supported by refinancing and lower interest expenses.

Chief Executive Officer Sharon Lim said the trust’s steady domestic operations and disciplined capital management underpinned the results. Unitholders will receive the 2.01-cent distribution on 4 December, with books closing on 30 October.

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Mapletree Commercial Trust

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