Mapletree Logistics Trust

On 27th July 2017, bought 3,000 shares of Mapletree Logistics Trust at $1.23 each.

The price had run up since January this year , missed the boat of scooping at around $1.0x range.

A  brief introduction of Mapletree Logistics Trust
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Singapore’s first Asia-focused logistics real estate investment trust which have logistics properties in Singapore, Japan, Hong Kong, South Korea, China, Australia, Malaysia and Vietnam.


Portfolio occupancy  FY16/17: 96.3%
WALE                                     : 4 years.
Average Debt duration            : 3.9 years
Gearing                                  : 38.5%
Total debt in fixed rates         : 81%
Average borrowing costs         : 2.3% pa
Total debt                             :$2184 million

As 81% of the debt are drawn in fixed rates, any rise in interest rate in the future will be mitigated.

I like its revenue from diversification of its properties across many countries thereby reducing a single country risk .

And within all its 531 tenants , no single tenant accounts for than 5% of the total gross revenue which I think is very good.

Furthermore, the diversification of the tenants in different trade sectors further reduce the downside.

With more than 30 new properties developing across Asia , mostly in China. The future prospects for MLT is exciting. Who knows maybe one day it will become the 2nd GLP

***Slides are from Mapletree Logistics Trust Corporate website.