On Aug 19, Mapletree Logistics Trust Management independent non-executive director Lim Joo Boon acquired 200,000 units of Mapletree Logistics Trust at S$1.29 per unit. This increased his direct interest in the Apac-focused logistics Reit to 308,659 units.

 

Lim is an Adjunct Associate Professor at the National University of Singapore Business School and acts as an adviser to the OWW II Private Equity Fund. He began his career with Accenture in 1978, where he held various senior leadership positions in both Accenture Singapore and the Asia-Pacific region.

 

On Jul 25, the manager of Mapletree Logistics Trust reported that its gross revenue for the first quarter of FY2025 (ended Jun 30, 2024) declined by 0.3 per cent from Q1 FY2024 to S$181.7 million, due to weaker performance in China, an absence of revenue from divested properties, and currency depreciation of the Japanese yen and Chinese yuan.

 

The manager noted that this was mitigated by higher contributions from properties in Singapore and Hong Kong, and acquisitions completed in Q1 FY2025 and FY2024. While Q1 FY2025 net property income (NPI) fell 0.9 per cent from Q1 FY2024 to S$156.7 million, on a constant currency basis, revenue and NPI would have grown by 2.1 per cent and 1.3 per cent, respectively.