MNACT's NPI down 19.5% to $68.5m in Q1 FY2021

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No The decline was mainly attributed to rental reliefs granted to tenants. Mapletree North Asia Commercial Trust (MNACT) saw its net property income (YoY) crash 19.5% YoY to $68.5m in Q1 FY2021, an SGX filing revealed. Gross revenue for the same period likewise fell 10.7% YoY to $93.7m. The decline was mainly attributed to rental reliefs granted to tenants and a lower average retail rental rate at Festival Walk in Hong Kong, as well as a lower average occupancy at Gateway Plaza. read more