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 / NYJ Editorial Desk /

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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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NYJ Editorial Desk

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

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