With effect from Sept 23, Mapletree Commercial Trust will be joining Straits Times Index, replacing Hutchison Port Holdings Trust.
“MCT was among Singapore’s most actively traded 25 stocks by turnover over the first eight months with a year-to-date total return of 43% in 2019” Reported by Business Times.
Geoff Howie, Singapore Exchange market strategist said, “As per the comparative performances to date and STI weightages, MCT plans to maintain a 1.5% weightage in the STI. This will result in a combined weightage of the four Reits (real estate investment trust) in the STI to around 8%”
MCT posted a 3.6% year-on-year increase in distribution per unit (DPU) to 2.31 Singapore cents for the first quarter ended June 30. Due to the heavy contributions from all properties (except Mapletree Anson), gross revenue was up 3.3% year-on-year to SGD 112.13 million.
VivoCity marked a 5.2% rise in gross revenue and a 4.2% growth in net property income for the quarter. In addition to this, their newest anchor tenant, FairPrice, successfully opened a 91,000 square foot integrated store on July 16 this year.
The STI reserve list that comprises of the top five con-constituents of STI in terms of market capitalisation is :-
- Mapletree Logistics Trust
- Suntec Reit
- Mapletree Industrial Trust
- Keppel Reit
- Mapletree North Asia Commercial Trust
Stocks on this reserve list could replace any constituent that is not eligible as a result of corporate actions before the next quarterly review which will take place in Dec 2019.
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