Mapletree Industrial Trust (MAPIF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thanks for joining us this morning for MIT fourth quarter and full year financial 2024-2025 results briefing. MIT has released its results on 30th April after market break. We have the management team to present the key highlights of the results. Ms. Le Lee Lee, CEO. Khoo Ging Fong, CFO. Ms. Tan, Head of Investment. Ms. Serene Tam, Head of Asset Management. Ms. Jim Shotking, Head of Marketing. Now, I'll pass to Millie to present the key highlights of the results. Good morning, everyone, and happy cooling-off day. So, no politics talks today. Okay, anyway, we can probably take a break from all the after the past few days' talks on politics, right? So, let's focus a bit on the results. For this quarter, we're going to a year-on-year improvement in terms of the DPU growth, 1%, reporting at 13.57 cents. The key contributors to the improvement in DPU growth is really on the back of the new contributions from the Osaka Data Center. We see the full-year effect this year, and we also have acquisition which we have completed towards the end of September. As for specific details on the financial, I think we will have Kim Phong to run through that. On the operational front, we are reporting a positive rental revision across all the sectors. I think weighted average about 8.1%. If you look in terms of the range, we are achieving rental revisions of between 1.4% to 12%. I think the higher of the range of 12% is actually the revision that has been recorded for our flatted factories. So there is the resilience of the flatted factories as well. As we have said, I think in the past quarters before, the rental revision is largely due to the fact that these are leases, renewal of leases, which were signed like three years ago during the COVID period. So naturally, we as we near the ren...