Mapletree Industrial Trust to distribute S million of divestment gains over next 4 quarters

Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters

April 26, 2024 / Riah Marton /


MAPLETREE Industrial Trust : ME8U 0% (MIT) plans to distribute some S$13 million of gains from divesting its Tanglin Halt Cluster over the next four quarters, its manager said on Friday (Apr 26).

MIT completed the divestment of 115A & 115B Commonwealth Drive, Singapore – referred to as the Tanglin Halt Cluster – at a sale price of S$50.6 million last month. The sale price represented an 8.4 per cent premium above book value.

“Relative to our original cost, plus our capitalised cost, we have gains of roughly S$13 million,” said Tham Kuo Wei, chief executive of the real estate investment trust (Reit) manager at an earnings briefing.

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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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