Mapletree Industrial Trust (MAPIF) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

have a good event. I will go live in less than one minute. Thank you. Yeah. Thank you. Thank you. Thanks for joining us this morning for MIT 4Q and full-year FY26 briefing. MIT has released its results yesterday after market closed. Here's the management team to preview the key highlights of the results. Le Lily, CEO. Fu Jingfeng, CFO. Mr. Peter Tan, Head of Investments. Ms. Serene Tam, Head of Asset Management. Vincent Shocking, Head of Marketing. and Ms. Sarah Wason here of Asset Management Data Center US. Now, I'll pass to Ging Fong to bring us through the highlights of the results. Good morning, everyone. Thank you for joining us for MIT full-year FY25-26 Financial Results Briefing. I'll bring you through the financial performance and update on... Thereafter, Lily will go through portfolio updates and give you some color on MIT's outlook. During the year, we divested three properties in Singapore. The lower MPI is largely due to absence of income from these three properties. There is also lower contribution for non-renewal of leases in the North American portfolio and weaker US dollar, against SING dollar. These were partially offset by higher contribution from Japan portfolio. mainly full-year contribution from our Tokyo property, which we acquired in November 2024, and completion of five years out works at Osaka Data Center, which was completed in May 2025, as well as renewals and new leases from Singapore portfolio. Borrowing costs, mainly due to repayment of borrowings with the divestment proceeds, lower interest on unhatched floating rate loans, and effects of weaker U.S. dollar against SING dollar. These were partially offset by higher borrowing costs in relation to the Japan portfolio. Cash declared by joint venture decreased due to higher borrowing costs ...