Mapletree reports net profit of S$2.16bn

Mapletree Logistics Trust has acquired logistics property in South Korea for KRW35.8bn.

Mapletree Investments Pte Ltd has reported net profit of S$*2.16bn in 2018, a year-on-year increase of 10.3%. Revenue for the Group increased to S$3,948.1m, a year-on-year increase of 23.6%. 

Mr Hiew Yoon Khong, Mapletree Group Chief Executive Officer said, “Mapletree’s strong commitment and execution of its business model brought forth the benefits of growing its business while maintaining consistently high returns. We are delighted that earnings were boosted due to new income streams from investments into new sectors and markets, organic growth of our same store assets, divestments by our private funds and asset revaluation gains”.

Underpinned by the Group’s deeper penetration into markets such as Australia, the United States and Europe, AUM increased by 20.3% to S$55.7bn in 2018 from S$46.3bn in 2017.

After assembling a stronger logistics portfolio during the financial year, in March 2019, Mapletree syndicated a private fund, the MUSEL Private Trust (“MUSEL”), with S$5.6bn of assets. This is the Group’s first fund in the US and Europe focusing on the logistics sector, allowing investors the opportunity to gain exposure to a portfolio of 262 logistics assets in 26 US states and 20 European cities across seven European countries.

*€ = 1.56 / $ = 1.36

Source: Mapletree