Latest news with #MLT
Scoop
3 days ago
- Automotive
- Scoop
Club Milestone At Barry Robinson Memorial Wyndham Rally
The Barry Robinson Memorial Wyndham Rally returns to the roads of the area on Saturday 2 August. The rally, which remembers the feats of the Mokereta farmer who was a very successful rally driver including finishing runner-up in the 1983 New Zealand Rally Championship, was instigated by the Eastern Southland Car Club in 2023. In addition to remembering Robinson, this year's event will also mark 50 years since the club held its first special stage rally, a Gore based event in March 1975. There are slight changes to the route of this year's event with an extra Special Stage increasing the length of high-speed competition to 137.15 kilometres and many of the stages to be contested in a different sequence this year. As usual the rally is based around the township of Wyndham, 45 kilometres east of Invercargill and 25km south of Gore. It will start at the MLT Three Rivers Hotel in Redan Street, Wyndham at 9.00am on Saturday 2 August with the first Special Stage at Tuturau over 21.15km. Wyndham Valley, over 17.49km is the second stage before the 28.12km Waikawa Valley stage. Pine Bush, over 25.99km is next with a new stage, the 13.95km Graham Road, next before the final 30.45km Fortification stage. Assistant Clerk of the Course, Roger Laird says, 'having driven the route twice with Clerk of the Course Craig Jessop, as we did checks and alterations for the Rally Safe system the new formation of stages drive really well and I am sure competitors will enjoy it. Craig has done a huge amount of work in creating the new route.' The first car is expected to cross the finish line back at the MLT Three Rivers Hotel in Wyndham just before 3.30pm. During the day there will be three service parks – the first in Wyndham after Stage 1 and two in Tokanui, approximately 44 km from Wyndham, the first after Stage 3 and then again after Stage 5. The event will be Round 4 of the Mainland Rally Championship, Round 4 of the H6 Cup Rally Series and the opening round of the 2025/2026 Eastern Southland Car Club Rally Championship Cup. Sponsors this year include Traffic Management Services and Yuasa Batteries with support from the Southland District Council, Gore District Council and the landowners on the rally route. The event prizegiving will take place in Gore at the MLT Croydon Lodge with the winning crew awarded the Barry Robinson Memorial Trophy. The leading Otago Sports Car Club driver in the event receives the Glen Shirlaw Memorial Trophy while the best crew in class from the Central Otago Motorsport Club win the Barry Robinson Trophy or if no crew finishes it will go to the top driver from the club.
Otago Daily Times
24-06-2025
- Automotive
- Otago Daily Times
Memorial rally returns to Southland roads in August
The Barry Robinson Memorial Wyndham Rally returns to the roads of the area on Saturday, August 2. The rally, named after the Mokoreta farmer who was a very successful rally driver, including finishing runner-up in the 1983 New Zealand Rally Championship, was established by the Eastern Southland Car Club in 2023. In addition to remembering Robinson, this year's event will also mark 50 years since the club held its first special stage rally, a Gore-based event in March 1975. There are slight changes to the route this year with an extra special stage increasing the length of high-speed competition to 137.15km. Many of the stages will be contested in a different sequence this year. As usual, the rally is based around the township of Wyndham, 45km east of Invercargill and 25km south of Gore. It will start at the MLT Three Rivers Hotel in Redan St, Wyndham at 9am on Saturday, August 2, with the first special stage at Tuturau over 21.15km. Wyndham Valley, over 17.49km, is the second stage before the 28.12km Waikawa Valley stage. Pine Bush, over 25.99km is next with a new stage, the 13.95km Graham Rd, next before the final 30.45km Fortification stage. "Having driven the route twice with clerk of the course Craig Jessop, as we did checks and alterations for the Rally Safe system, the new formation of stages drive really well and I am sure competitors will enjoy it," assistant course clerk Roger Laird said. "Craig has done a huge amount of work in creating the new route." The first car is expected to cross the finish line back at the MLT Three Rivers Hotel in Wyndham just before 3.30pm. During the day there will be three service parks — the first in Wyndham after stage one and two in Tokanui, about 44km from Wyndham, the first after stage three and then again after stage five. The event will be round four of the Mainland Rally Championship, round four of the H6 Cup Rally Series and the opening round of the 2025-26 Eastern Southland Car Club Rally Championship Cup. Sponsors this year include Traffic Management Services and Yuasa Batteries, with support from the Southland District Council, Gore District Council and the landowners on the rally route. The event prizegiving will take place in Gore at the MLT Croydon Lodge and the winning crew will be awarded the Barry Robinson Memorial Trophy. The leading Otago Sports Car Club driver in the event receives the Glen Shirlaw Memorial Trophy, while the best crew in class from the Central Otago Motorsport Club win the Barry Robinson Trophy. If no crew finishes, it will go to the top driver from the club. —APL
Straits Times
03-06-2025
- Business
- Straits Times
Mapletree Investments returns to profit, hits record assets under management of $80.3 billion
Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. PHOTO: ST FILE Mapletree Investments returns to profit, hits record assets under management of $80.3 billion SINGAPORE - Temasek's Mapletree Investments reversed a loss from the previous year to turn a profit of $227.2 million for the full-year ended March 31, on the back of narrowed overall revaluation losses. This was while its assets under management (AUM) hit a record $80.3 billion, 3.6 per cent higher than $77.5 billion reported in the same period the year before, the company said in a statement on June 3. Revenue for the period was $2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group. Excluding the impact of the deconsolidation, the group's revenue was 1.2 per cent higher than in the previous financial year. Recurring profit after tax and minority interests was $637.4 million for the full year. Separately, the company recorded total net proceeds of $897 million from divestment of non-core assets, other divestments to MLT and the syndication of Mapletree Japan Investment Country Private Trust. The group's projects under development increased to $5.5 billion, from $3.7 billion previously. Mr Hiew Yoon Khong, group chief executive officer, said the company had deepened its focus on its core sectors for this financial year. These include logistics, student housing, office and data centres. This was done through prioritising operational performance, investing selectively in specific markets with growth potential, and embarking on more development projects for higher returns, he added. 'These strategic priorities underpinned Mapletree's resilient FY24/25 performance, and will continue to guide the group in fostering sustainable growth.' Logistics and accommodation Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. In logistics, the group continued to acquire quality logistics assets and embarked on new logistics development initiatives across the Asia-Pacific. In Europe, it entered the United Kingdom logistics market by acquiring Derby DC1 and Verda Park. It also deepened its presence in Spain by acquiring a portfolio of 10 logistics assets. As at March 31, 2025, the group's logistics portfolio in Europe and the United Kingdom stood at $2.2 billion. The group is also currently marketing a new logistics development fund, focusing on Malaysia, India and Vietnam, where 'institutional-grade logistics products are undersupplied', it said. The Mapletree Emerging Growth Asia Logistics Development Fund (Mega), will comprise development assets with a total AUM of US$1.8 billion (S$2.3 billion), and is targeted to close this year. In student housing, the group completed a £1 billion (S$1.74 billion) acquisition of a portfolio of 31 UK and Germany student housing assets. This move sent Mapletree to fourth position among the largest student-housing owners in the UK as at March 31, from seventh place. Offices and data centres As for the office sector, Mapletree continued to pour investments into the India and Vietnam markets to ride the demand for quality offices. In India, the group acquired a land parcel in Bengaluru for a greenfield office-development project called Global Business City in FY24/25. When completed, it will house office spaces with a net lettable area of 743,224 sq m on a plot 153,780 sq m in size. Iin Vietnam, Mapletree acquired a land parcel in Hanoi to develop a 92,000 sq m, Grade-A mixed-use office project with retail amenities. In the data centre sector, Mapletree Industrial Trust acquired a freehold, mixed-use facility in Japan, with a redevelopment opportunity to turn it into a data centre. Meanwhile, the group's first data centre development, in Fanling, Hong Kong, is set to complete in the second half of this year. 'Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong,' it said. It will also explore emerging markets such as London, Milan and Madrid, which present 'strong potential for returns'. In the Asia-Pacific, the group will focus on mature and high-potential markets such as Japan and Korea. Said Mr Hiew: 'We will continue to prioritise enhancing operational performance for our existing assets, maintaining a selective investment approach in markets with growth potential, creating greater value through development projects... all the while deepening collaborations with like-minded capital partners on new funds and syndication.' THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
03-06-2025
- Business
- Business Times
Temasek's Mapletree Investments returns to profit, hits record AUM of S$80.3 billion in FY2025
[SINGAPORE] Temasek's Mapletree Investments reversed a loss from the previous year to turn a profit of S$227.2 million for the full-year ended Mar 31, on the back of narrowed overall revaluation losses. This was while its assets under management (AUM) hit a record S$80.3 billion, 3.6 per cent higher than S$77.5 billion reported in the same period the year before, the company said in a statement on Tuesday (Jun 3). Revenue for the period was S$2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group. Excluding the impact of the deconsolidation, the group's revenue was 1.2 per cent higher than in the previous financial year. Recurring profit after tax and minority interests was S$637.4 million for the full year. Separately, the company recorded total net proceeds of S$897 million from divestment of non-core assets, other divestments to MLT and the syndication of Mapletree Japan Investment Country Private Trust. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The group's projects under development increased to S$5.5 billion, from S$3.7 billion previously. Hiew Yoon Khong, group chief executive officer, said the company had deepened its focus on its core sectors for this FY. These include logistics, student housing, office and data centres. This was done through prioritising operational performance, investing selectively in specific markets with growth potential, and embarking on more development projects for higher returns, he added. 'These strategic priorities underpinned Mapletree's resilient FY24/25 performance, and will continue to guide the group in fostering sustainable growth.' Logistics and accommodation Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. In logistics, the group continued to acquire quality logistics assets and embarked on new logistics development initiatives across the Asia-Pacific. In Europe, it entered the United Kingdom logistics market by acquiring Derby DC1 and Verda Park. It also deepened its presence in Spain by acquiring a portfolio of 10 logistics assets. As at Mar 31, 2025, the group's logistics portfolio in Europe and the UK stood at S$2.2 billion. The group is also currently marketing a new logistics development fund, focusing on Malaysia, India and Vietnam, where 'institutional-grade logistics products are undersupplied', it said. The Mapletree Emerging Growth Asia Logistics Development Fund (Mega), will comprise development assets with a total AUM of US$1.8 billion, and is targeted to close this year. In student housing, the group completed a £1 billion (S$1.7 billion) acquisition of a portfolio of 31 UK and Germany student housing assets. This move sent Mapletree to fourth position among the largest student-housing owners in the UK as at Mar 31, from seventh place. Offices and data centres As for the office sector, Mapletree continued to pour investments into the India and Vietnam markets to ride the demand for quality offices. In India, the group acquired a land parcel in Bengaluru for a greenfield office-development project called Global Business City in FY24/25. When completed, it will house office spaces with a net lettable area of 743,224 square metres (sq m) on a plot 153,780 sq m in size. Over in Vietnam, Mapletree acquired a land parcel in Hanoi to develop a 92,000 sq m, Grade-A mixed-use office project with retail amenities. In the data centre sector, Mapletree Industrial Trust acquired a freehold, mixed-use facility in Japan, with a redevelopment opportunity to turn it into a data centre. Meanwhile, the group's first data centre development, in Fanling, Hong Kong, is set to complete in the second half of this year. 'Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong,' it said. It will also explore emerging markets such as London, Milan and Madrid, which present 'strong potential for returns'. In the Asia-Pacific, the group will focus on mature and high-potential markets such as Japan and Korea. Said Hiew: 'We will continue to prioritise enhancing operational performance for our existing assets, maintaining a selective investment approach in markets with growth potential, creating greater value through development projects ... all the while deepening collaborations with like-minded capital partners on new funds and syndication.'
Business Times
11-05-2025
- Business
- Business Times
Industrial S-Reits report NPI growth, but managers are cautious on outlook
SINGAPORE real estate investment trusts (S-Reits) with exposure to the industrial sub-segment have mostly reported growth in net property income (NPI) in the quarter ended March. The resilient operating performance comes as industrial S-Reits report stable occupancies and positive rental reversions in the most recent quarter. However, the Reit managers are more cautious on the outlook – with greater emphasis on tenant retention and cost management – given the challenging macroeconomic environment affected by global tariffs and trade uncertainty. Of the seven S-Reits that focus on the industrial sub-sector, three reported full-year results in the latest earnings season, while the others provided updates on their first-quarter performance. Mapletree Industrial Trust 's (MINT) distribution per unit (DPU) for FY25 ended March, rose 1 per cent to S$0.1357, on the back of higher gross revenue and NPI. The growth was driven by revenue contributions from the Osaka Data Centre and an acquisition in Tokyo, in addition to new leases and lease renewals of Singapore properties. However, MINT's manager said that higher property operating expenses and elevated borrowing costs may continue to exert pressure on distributions. It will adopt cost-mitigating measures and focus on tenant retention to maintain a stable portfolio occupancy level. Mapletree Logistics Trust (MLT) reported stable operating performance with 96.2 per cent occupancy and 5.1 per cent positive rental reversions in its fourth quarter. However, NPI slipped 1.6 per cent amid lower revenue contributions from China, absence of contributions from divested properties and a weakening of regional currencies against the Singapore dollar. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up MLT's manager expects tenants to take a cautious approach to leasing and expansion amid global trade tensions, and its top priorities include ensuring tenant retention, portfolio resilience and cost management. It estimates that around 15 per cent of portfolio revenue comes from tenants that are engaged in export businesses. Elsewhere, Aims Apac Reit also reported stable portfolio occupancy and 20 per cent positive rental reversions for FY25. DPU grew 2.6 per cent to S$0.096 for the full year. The manager noted that the trust's healthy balance sheet with gearing of 28.9 per cent provides ample headroom to fund future growth initiatives and new acquisitions. Similarly, ESR Reit posted S$82.5 million in NPI for Q1 2025, a 31.3 per cent increase on year, mainly due to full-quarter contributions from acquired properties, completion of asset enhancement initiatives (AEIs) and higher contributions from existing properties. Distributable income (DI) increased 7 per cent on year to S$44.2 million in Q1 2025. The manager expects NPI and DI to increase in FY25, given full-year contributions from completed acquisitions and AEIs, and positive rental reversions. Sabana Industrial Reit reported 15.3 per cent positive rental reversion in Q1, continuing on four successive years of double-digit positive rental reversion. NPI rose 22 per cent to S$16 million, led by higher gross revenue. The Reit's manager noted that performance is expected to be challenged by disruptions in global trade and significant cost pressures from the potential imposition of US tariffs, and it remains focused on optimising portfolio occupancy. Daiwa House Logistics Trust (DHLT) reported a 2.7 per cent increase in NPI for its overall portfolio in Singapore dollar terms during Q1, mainly due to the acquisition of D Project Tan Duc 2, partially offset by weaker Japanese yen and lower contribution from Japan. DHLT's manager noted that trade tariffs have resulted in economic uncertainty globally, and it is monitoring the potential impact. Less than 10 per cent of DHLT's Japan tenants by gross rental income are involved in exporting of goods, while the property in Vietnam is anchored on a long 20-year lease that expires in 2043. Phillip Securities analysts noted last month that S-Reits in the industrial sub-sector may face a medium impact from higher tariffs, as manufacturing may decline, especially for tenants with cross-border activities. However, they added that reshoring or near shoring could boost local industrial demand. The analysts remain overweight on S-Reits as the sector is relatively resilient in a downturn, given that tenants are contractually required to pay rent. They noted that the sector could start benefiting from interest rate savings in 2025 and 2026. SGX RESEARCH The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the monthly S-Reits & Property Trusts Chartbook.
