Tuesday, April 1st, 2025

Mapletree Logistics Trust (MapletreeLog, MLT SP)

Mapletree Logistics Trust (MapletreeLog, MLT SP)

Overview:

Mapletree Logistics Trust is a REIT focused on owning and managing logistics properties across Asia-Pacific. As of September 2024, MLT had a portfolio of 182 properties across key markets, including Singapore, Japan, Australia, and China. The trust recently announced the divestment of three properties in Malaysia to enhance its portfolio through capital recycling.

  • Recent Divestments:
    • MLT announced the sale of Linfox, Celestica Hub, and Zentraline in Malaysia for a combined price of MYR157.5 million (approximately S$47.7 million). The divestments were made at a premium to their book values, with prices 1.9% to 28.6% higher than their most recent valuations.
  • Strategic Objectives:
    • The divestments are aligned with MLT’s strategy to rejuvenate its portfolio by selling older properties and acquiring modern logistics assets with higher growth potential.
    • The capital raised from these sales will provide MLT with the financial flexibility to pursue new investment opportunities in high-growth logistics markets, especially in modern, high-specification facilities.
  • Portfolio Strength:
    • MLT’s assets are well-positioned in high-demand locations, with an emphasis on e-commerce and third-party logistics tenants.
    • Occupancy Rates: The trust has maintained high occupancy rates across its portfolio, reflecting strong demand for logistics space in Asia-Pacific.

Outlook:

  • Growth Prospects: MLT’s focus on high-quality logistics properties and its ability to recycle capital into newer, high-growth assets should provide steady earnings growth. The trust’s strategy of pursuing accretive acquisitions, alongside selective divestments, positions it well for continued expansion in key markets like Japan and Australia.
  • Valuation: MLT currently trades at 1.0x P/B and offers a dividend yield of 5.7%. The consensus target price stands at S$1.60, representing an 11% upside from the current price of S$1.43.

    Thank you

Nam Lee Pressed Metals Reports Strong FY2024 Turnaround: Profit Soars to S$12.2 Million

Comprehensive Analysis of Companies Covered in Lim & Tan Securities’ January 2025 Report Comprehensive Analysis of Companies Covered in Lim & Tan Securities’ January 2025 Report Broker: Lim & Tan Securities Date: January 10,...

Indonesian Banking Outlook 2025: BBCA and BRIS Set for Double-Digit Growth Amid Challenges

Comprehensive Analysis of Indonesian Banking Stocks – UOB Kay Hian Report Comprehensive Analysis of Indonesian Banking Stocks Broker: UOB Kay Hian Date of Report: January 15, 2025 Sector Overview Indonesia’s banking sector is poised...

One of the main reasons for the drop in Genting Singapore’s share price was……

One of the main reasons for the drop in Genting Singapore’s share price was its disappointing second-quarter earnings for FY2024. The company reported a sharp decline in adjusted EBITDA, which fell by 46% quarter-on-quarter...