{"id":3431,"date":"2017-05-31T03:17:00","date_gmt":"2017-05-31T03:17:00","guid":{"rendered":"urn:uuid:63c804c0-63aa-49b7-b57e-637967b9c329"},"modified":"2025-02-18T08:58:34","modified_gmt":"2025-02-18T08:58:34","slug":"mapletree-achieved-record-profitability-of-s1413-7-million-underpinned-by-strong-earnings-base","status":"publish","type":"newsroom","link":"https:\/\/www.mapletree.com.sg\/jp\/newsroom\/mapletree-achieved-record-profitability-of-s1413-7-million-underpinned-by-strong-earnings-base\/","title":{"rendered":"Mapletree Achieved Record Profitability of S$1,413.7 Million, Underpinned by Strong Earnings Base"},"content":{"rendered":"\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-list\">\n<li style=\"font-style:italic;font-weight:400\">Recurring PATMI up 21.6% year-on-year to S$643.6 million<\/li>\n\n\n\n<li style=\"font-style:italic;font-weight:400\">Return on Equity (\u201cROE\u201d) of 12.8% and Return on Invested Equity (\u201cROIE\u201d) of 18.7%<\/li>\n\n\n\n<li style=\"font-style:italic;font-weight:400\">Total Owned and Managed Assets under Management (\u201cAUM\u201d) increased to S$39.5 billion<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p><strong>SINGAPORE&nbsp;<\/strong><strong>\u2013<\/strong>&nbsp;Mapletree Investments (\u201cMapletree\u201d or \u201cthe Group\u201d) delivered a record PATMI<sup>1<\/sup>&nbsp;of S$1,413.7 million, a 46.5% increase in the financial year ended 31 March 2017 (\u201cFY16\/17\u201d). Backed by strong recurring earnings, investment and other gains as well as revaluation gains, the Group recorded a higher ROE of 12.8% and a higher ROIE of 18.7% as compared to a year ago.<\/p>\n\n\n\n<p>Overall revenue and recurring PATMI rose to S$2,328.8 million and S$643.6 million respectively, representing a year-on-year increase of 23.9% and 21.6% respectively. This was driven by earnings from:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Group\u2019s acquisitions in Vietnam, the US (\u201cUnited States\u201d), the UK (\u201cUnited Kingdom\u201d) and Australia;<\/li>\n\n\n\n<li>Completion of properties previously under development \u2013 such as Mapletree Business City II in Singapore and Mapletree Logistics Hub Tsing Yi in Hong Kong SAR;<\/li>\n\n\n\n<li>Contributions from its four managed REITs.<\/li>\n<\/ul>\n\n\n\n<p>Said Mr Hiew Yoon Khong, Mapletree Group Chief Executive Officer: \u201cWhile we have grown in scale over the years, we have remained focused on maintaining consistency in our earnings. To seek continued growth, we have gradually expanded from an Asia-centric company to a global company with presence in 12 economies since FY14\/15. We had also ventured into new asset classes of student housing, corporate housing and serviced apartments over the recent years. This strategy has paid off with strong recurring earnings accounting for 45.5% of our total profits this year and allowing us to achieve our highest profitability yet.\u201d<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading has-medium-font-size\"><span style=\"text-decoration: underline\">Gaining ground internationally<\/span><\/h3>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>In the UK, Mapletree acquired Green Park, a 79-hectare freehold business park in Thames Valley, Reading in May 2016. The business park has a committed occupancy of approximately 92% and has a net lettable area of close to 130,000 square meters (\u201csqm\u201d), with a further development potential of close to 82,000 sqm.<\/p>\n\n\n\n<p>In FY16\/17, Mapletree continued to grow its international presence in the corporate housing sector, with the acquisition of Oakwood Worldwide (\u201cOakwood\u201d), a global provider of corporate housing and serviced apartment solutions in February 2017. This acquisition followed an earlier partnership with Oakwood which started in 2014, and has been part of the Group\u2019s long-term strategy to expand globally into this asset class.<\/p>\n\n\n\n<p>During the year, Mapletree\u2019s AUM increased to S$39.5 billion, supported by recent acquisitions, revaluation gains from newly completed properties and the four Mapletree managed REITs. Assets in new markets &#8211; Europe, the US and Australia continued to grow, accounting for 14.2% of total AUM or S$5.6 billion in FY16\/17. These markets contributed to 13.5% of the Group\u2019s EBIT+SOA<sup>2<\/sup>, while Singapore-based properties continued to remain a main contributor to EBIT+SOA<sup>2<\/sup>&nbsp;at 51.9%.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading has-medium-font-size\"><span style=\"text-decoration: underline\">Value enhancing capital management<\/span><\/h3>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>Mr Hiew added: \u201cAs part of our capital management strategy, we successfully closed Singapore\u2019s first student housing-focused trust, Mapletree Global Student Accommodation Private Trust (\u201cMGSA P-Trust\u201d), securing US$535 million in equity. We will continue to grow a sizeable portfolio of student housing assets, as we see increasing demand from private investors who seek stable and strong returns from the anti-cyclical nature of this asset class. We plan to syndicate another private equity fund focused on this asset class if market conditions are right.\u201d<\/p>\n\n\n\n<p>In February 2017, MJLD, a private Japan-focused real estate development fund managed by Mapletree acquired three logistics properties in Japan. With this acquisition, MJLD has significantly increased its proportion of capital deployed since its establishment in 2014. Prior to this, in August 2016, Mapletree Business City I was successfully injected into Mapletree Commercial Trust (\u201cMCT\u201d), and was well received by MCT unitholders and reinforced MCT\u2019s standing as a leading S-REIT.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading has-medium-font-size\"><span style=\"text-decoration: underline\">Continued focus on Asia with successful development execution<\/span><\/h3>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>While growing its global footprint, Mapletree continued to enhance its position in Asia, with acquisitions and development milestones achieved during the year. In Vietnam, the Group acquired Kumho Asiana Plaza<sup>3<\/sup>, a prime mixed-use complex in Ho Chi Minh City. This is Mapletree\u2019s largest acquisition of a completed, income-producing property in the country to date. It has offices, serviced apartments and a hotel over a gross floor area (\u201cGFA\u201d) of 146,000 sqm.<\/p>\n\n\n\n<p>In March 2017, the Group opened Mapletree Business Centre, its first office development of international Grade A specifications with strong leasing commitments. This is the second phase of the Group\u2019s precinct transformation at Saigon South Place, located in the affluent district 7 of Ho Chi Minh City.<\/p>\n\n\n\n<p>To meet the growing demand of high specifications logistics and e-commerce sectors in China, Mapletree grew its logistics development projects in the country, bringing the total GFA to 2,800,000 sqm, a year-on-year increase of 81%. More than 80% of total GFA across 34 projects is located in Tier 1 and 2 cities.<\/p>\n\n\n\n<p>Also in China, VivoCity Shanghai was officially opened on 26 May 2017 with a committed occupancy of 95%. As the retail component of Mapletree\u2019s mixed-use development in Shanghai\u2019s Minhang district, the mall serves the residential community as well as the working community of the adjacent Mapletree Business City Shanghai.<\/p>\n\n\n\n<p>In Hong Kong SAR, Mapletree\u2019s first logistics development project in the country &#8211; Mapletree Logistics Hub Tsing Yi, an 11-storey ramp-up Grade A logistics facility, successfully achieved a high committed occupancy of close of 97% within a year, following its completion in March 2016. This prime logistics asset has allowed Mapletree to generate high returns from the initial development cost.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p><span style=\"text-decoration: underline\">Footnotes<\/span><\/p>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<p><sup>1<\/sup>PATMI denotes net profit (after tax and non-controlling interests) attributable to Perpetual Securities Holders and Equity Holder of the Company.<\/p>\n\n\n\n<p><sup>2<\/sup>Earnings before interest and tax (EBIT) plus share of operating profit or loss of associated companies and joint ventures (SOA), excluding revaluation, SOA gains or losses relating to disposal, foreign exchange and derivatives gains or losses.<\/p>\n\n\n\n<p><sup>3<\/sup>To be renamed to mPlaza Saigon.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"300\" src=\"https:\/\/www.mapletree.com.sg\/tachyon\/2017\/05\/Picture-1OakwoodOlympic-Oliveresized.jpg\" alt=\"\" class=\"wp-image-3435\" srcset=\"https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-1OakwoodOlympic-Oliveresized.jpg?resize=450%2C300&amp;zoom=1 450w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-1OakwoodOlympic-Oliveresized.jpg?resize=450%2C300&amp;zoom=0.5 225w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-1OakwoodOlympic-Oliveresized.jpg?resize=450%2C300&amp;zoom=0.25 113w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><figcaption class=\"wp-element-caption\">Opened on 18 April 2017, Oakwood Olympic &amp; Olive,\u00a0located in Downtown Los Angeles, is the first property added to Oakwood Worldwide\u2019s portfolio since Mapletree acquired the company in February 2017<\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"300\" src=\"https:\/\/www.mapletree.com.sg\/tachyon\/2017\/05\/Picture-2MGSA-PTrust13th-Oliveresized.jpg\" alt=\"\" class=\"wp-image-3436\" srcset=\"https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-2MGSA-PTrust13th-Oliveresized.jpg?resize=450%2C300&amp;zoom=1 450w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-2MGSA-PTrust13th-Oliveresized.jpg?resize=450%2C300&amp;zoom=0.5 225w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-2MGSA-PTrust13th-Oliveresized.jpg?resize=450%2C300&amp;zoom=0.25 113w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><figcaption class=\"wp-element-caption\">13th &amp; Olive in Eugene, Oregon, one of the 10 student housing properties in the US under MGSA P-Trust<\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"300\" src=\"https:\/\/www.mapletree.com.sg\/tachyon\/2017\/05\/Picture-3_Mapletree-Logistics-Hub-Tsing-Yi_resized.jpg\" alt=\"\" class=\"wp-image-3437\" srcset=\"https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-3_Mapletree-Logistics-Hub-Tsing-Yi_resized.jpg?resize=450%2C300&amp;zoom=1 450w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-3_Mapletree-Logistics-Hub-Tsing-Yi_resized.jpg?resize=450%2C300&amp;zoom=0.5 225w, https:\/\/www.mapletree.com.sg\/tachyon\/sites\/11\/2017\/05\/Picture-3_Mapletree-Logistics-Hub-Tsing-Yi_resized.jpg?resize=450%2C300&amp;zoom=0.25 113w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><figcaption class=\"wp-element-caption\">Completed in March 2016, Mapletree Logistics Hub Tsing Yi is an 11-storey ramp-up Grade A logistics facility in Hong Kong SAR<\/figcaption><\/figure>\n<\/div>\n<\/div>\n","protected":false},"featured_media":16390,"template":"","meta":{"_acf_changed":false,"_trash_the_other_posts":false,"ep_exclude_from_search":false,"editor_notices":[]},"tags":[604,114],"newsroom-category":[112,1135],"csr-category":[],"class_list":["post-3431","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-604","tag-news"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mapletree Achieved Record Profitability of S$1,413.7 Million, Underpinned by Strong Earnings Base - MIPL Japan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mapletree-stag.altis.cloud\/jp\/newsroom\/mapletree-achieved-record-profitability-of-s1413-7-million-underpinned-by-strong-earnings-base\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mapletree Achieved Record Profitability of S$1,413.7 Million, Underpinned by Strong Earnings Base - MIPL Japan\" \/>\n<meta property=\"og:description\" content=\"SINGAPORE&nbsp;\u2013&nbsp;Mapletree Investments (\u201cMapletree\u201d or \u201cthe Group\u201d) delivered a record PATMI1&nbsp;of S$1,413.7 million, a 46.5% increase in the financial year ended 31 March 2017 (\u201cFY16\/17\u201d). 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