{"id":23808,"date":"2025-07-02T18:06:18","date_gmt":"2025-07-02T18:06:18","guid":{"rendered":"urn:uuid:6774f511-487a-4890-bd63-4f6cefd46fe4"},"modified":"2025-10-08T17:37:43","modified_gmt":"2025-10-08T09:37:43","slug":"fy2425-ar","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.mapletree.com.sg\/fy2425-ar\/","title":{"rendered":"Annual Report FY24\/25"},"content":{"rendered":"\n
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FY24\/25
Annual Report
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Guiding Lights, <\/strong>
Seizing Opportunities<\/strong><\/p>\n\n\n\n

In Financial Year 2024\/2025 (FY24\/25), the Group remained focused on improving its operational performance while being disciplined in executing its expansion plans through strategic portfolio acquisitions in core sectors (logistics, student housing, office and data centre) and increasing development activity to build for the future.<\/p>\n\n\n\n

FY24\/25 Annual Report<\/p><\/div><\/a><\/div>\n\n\n\n

FY24\/25 Summary Annual Report<\/p><\/div><\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n

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Financial Highlights<\/strong><\/p>\n\n\n\n

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S$80.3B<\/strong><\/p>\n\n\n\n

Assets Under Management (AUM)<\/p>\n<\/div>\n\n\n\n

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S$2,229.1M<\/strong><\/p>\n\n\n\n

Revenue<\/p>\n<\/div>\n\n\n\n

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S$637.4M<\/strong><\/p>\n\n\n\n

Recurring Profit After Taxes And Minority Interests (PATMI)<\/p>\n<\/div>\n\n\n\n

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S$5.5B<\/strong><\/p>\n<\/div>\n\n\n\n

Projects Under Development<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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\"Image\"\"Mobile<\/div>Mr Edmund Cheng<\/span><\/div>

Message from the Chairman<\/h2><\/div>

“In the months ahead, market conditions are expected to remain tough amid ongoing uncertainties. Notwithstanding, we are ready to adapt and have identified potential growth opportunities in selected markets. As a Group, we will continue to strengthen our focus on our four core sectors \u2013 logistics, student housing, office and data centre \u2013 in geographies where we see promising long-term prospects.”<\/p><\/div>

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Mapletree has demonstrated its resilience in a year marked by high interest rates, market uncertainties and an evolving economic landscape. Looking back on Financial Year 2024\/2025 (FY24\/25), the Group has effectively pursued its strategic goals with discipline, adaptability and a forward-thinking approach.<\/p>\n\n\n\n


The current global trade environment is characterised by high volatility, largely due to geopolitical tensions and the ongoing tariff wars. These circumstances have led to changes in trade policies and are reshaping economic relationships on a global scale, subsequently affecting market confidence.<\/p>\n\n\n\n


Global growth is still struggling, lagging behind the levels we saw before the pandemic hit. While some advanced economies are showing signs of recovery, many developing countries are still dealing with the lasting effects of the pandemic.<\/p>\n\n\n\n


Against this backdrop, Mapletree has successfully navigated these difficulties by prioritising operational stability, acquiring strategically across core sectors in selected markets, and proactively managing our capital. We are committed to delivering sustainable growth to our stakeholders with a focus on both short and longer-term goals.<\/p>\n\n\n\n


In the months ahead, market conditions are expected to remain tough amid ongoing uncertainties. Notwithstanding, we are ready to adapt and have identified potential growth opportunities in selected markets. As a Group, we will continue to strengthen our focus on our four core sectors \u2013 logistics, student housing, office and data centre \u2013 in geographies where we see promising long-term prospects.

Read the full message<\/mark><\/a><\/p>\n<\/div>

Read More<\/span>\"downarrow\"\/<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n
\"Image\"\"Mobile<\/div>Mr Hiew Yoon Khong<\/span><\/div>

Message from the Group Chief Executive Officer<\/h2><\/div>

“As we prioritise achieving operational excellence for our existing assets, we continue to build for value creation in the future. Moving forward, we strive to deepen collaborations with like-minded capital partners on new funds and syndication, while continuing to invest into the various asset classes and markets identified for long-term growth. We would like to thank our stakeholders for your continued trust and support as we remain steadfast in fostering sustainable growth in the long term.”<\/p><\/div>

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Amid the challenging market conditions, Mapletree delivered a resilient performance in FY24\/25 with a revenue of S$2.2 billion and a recurring PATMI of S$637.4 million. Stable operational results, supported by the Group\u2019s strategic acquisitions and asset recycling activities, have continued to provide a solid foundation for our business.
 
The Group recorded total net proceeds of S$897 million from successful divestment of non-core assets as well as other divestments to Mapletree Logistics Trust and the syndication of Mapletree Japan Investment Country Private Trust, the Group\u2019s third Japan-focused private fund. Overall, the Group\u2019s PATMI recovered from a net loss a year ago to a profit of S$227.2 million in FY24\/25 as asset valuation losses narrowed.
 
For this FY, the Group focused on strategic portfolio acquisitions in defensive sectors, pivoting towards opportunities aligned with our long-term growth objectives. Our AUM grew from S$77.5 billion in FY23\/24 to S$80.3 billion in FY24\/25. Our managed AUM remained at S$60.3 billion while owned AUM grew on the back of the strategic acquisitions, leading to a lower AUM ratio of 3x in FY24\/25.
 
Besides deepening our exposure in resilient asset classes, we continued to build for the future, with projects under development standing at S$5.5 billion as at 31 March 2025, compared to S$3.7 billion a year ago. Having honed our development capabilities over the years, we are now leveraging our expertise to increase the value-add to our portfolio. Development projects allow us to achieve better returns with higher yields on costs and enable us to bring higher quality products to the market.
 
In addition, the Group continued to prioritise balance sheet optimisation by adopting proactive capital management and hedging strategies to mitigate the impact of elevated interest rates and global economic uncertainties. Despite executing several strategic acquisitions in FY24\/25, the Group recorded a healthy interest cover ratio at 2.6x of net finance costs. Mapletree\u2019s ability to capture new opportunities remained robust, with access to cash and undrawn facilities amounting to S$9.2 billion as at 31 March 2025 to fund future acquisitions.
 
Overall, these results reflected Mapletree\u2019s disciplined and prudent approach in executing our business plans despite a challenging environment marked by elevated interest rates, intensifying geopolitical tensions, and an increasingly uncertain global economic backdrop, which has since escalated even further amid the ongoing tariff wars.

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Read the full message<\/mark><\/a><\/p>\n<\/div>

Read More<\/span>\"downarrow\"\/<\/div><\/div><\/div><\/div><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n
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Highlights of the Year<\/h3>