The earnings call presented a mixed view with notable operational efficiencies and improvements in portfolio valuation, especially in Singapore properties. However, declines in gross revenue, NPI, and DPU, alongside challenges in overseas markets, particularly China and Japan, indicate significant hurdles. The sentiment remains cautious given the uncertainties in foreign operations.

Company Guidance

In the recent analyst briefing for Mapletree Pan Asia Commercial Trust (MPACT), several key financial metrics and operational updates were discussed. For the fourth quarter of FY 2024-2025, MPACT reported a gross revenue of SGD 222.9 million and a net property income (NPI) of SGD 169.5 million, reflecting declines of 6.8% and 7.4% year-on-year, respectively. The absence of contributions from Mapletree Anson following its divestment in July 2024 and lower overseas contributions were major factors in this decline. Operating expenses improved by 4.9% year-on-year due to the divestment and reduced utility costs in Singapore. The amount available for distribution was SGD 103.6 million, leading to a distribution per unit (DPU) of SGD 0.0195, down 14.8% year-on-year. On a full-year basis, gross revenue and NPI were SGD 908.8 million and SGD 683.5 million, respectively, both lower compared to the previous year. MPACT's portfolio valuation was approximately SGD 16 billion as of March 2025, with an uplift in the Singapore portfolio led by VivoCity’s performance. The aggregate leverage ratio improved to 37.7% from 40.5% a year ago, aided by the proceeds from the Mapletree Anson sale. The issuance of a seven-year green bond extended the average debt maturity to 3.3 years, with the fixed rate debt portion now at 79.9%. The estimated impact of a 50 basis point change in benchmark rates on the DPU is SGD 0.001 annually. Despite challenges in overseas markets, particularly China and Japan, the Singapore properties showed resilience, with VivoCity continuing to perform well.

Improved Operational Efficiency

Operating expenses improved by 4.9% year-on-year due to the divestment of Mapletree Anson and lower utility costs, particularly in the Singapore portfolio.

Portfolio Valuation Uplift

Excluding the Mapletree Anson divestment, the portfolio valuation rose SGD 339.4 million or 2.2% from the previous year.

Singapore Properties Performance

Contribution from Singapore properties increased by 1.4% year-on-year, accounting for about 53% of the fourth quarter's portfolio gross revenue and NPI.

Improved Aggregate Leverage Ratio

Aggregate leverage ratio improved from 40.5% a year ago to 37.7% as at 31st March 2025, due to the reduction in outstanding borrowings.

Successful Green Bond Issuance

MPACT issued a seven-year green bond in March 2025, extending the average term of debt maturity to 3.3 years.

Mapletree Commercial (SG:N2IU) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

SG:N2IU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2026 (Q2)	0.02 / -	-0.002	―	―	―
Jul 30, 2025	2026 (Q1)	0.02 / 0.02	0.021	-9.52% (>-0.01)	―	―
Apr 24, 2025	2025 (Q4)	0.02 / 0.07	0.049	53.06% (+0.03)	―	―
Jan 23, 2025	2025 (Q3)	0.02 / 0.02	0.022	-18.18% (>-0.01)	―	―
Oct 24, 2024	2025 (Q2)	0.02 / >-0.01	0.02	-110.00% (-0.02)	―	―
Jul 30, 2024	2025 (Q1)	0.02 / 0.02	0.02	5.00% (<+0.01)	―	―
Apr 23, 2024	2024 (Q4)	0.02 / 0.05	0.02	145.00% (+0.03)	―	―
Jan 29, 2024	2024 (Q3)	0.02 / 0.02	0.02	10.00% (<+0.01)	―	―
Oct 26, 2023	2024 (Q2)	0.02 / 0.02	0.05	-60.00% (-0.03)	―	―
Jul 31, 2023	2024 (Q1)	0.02 / 0.02	0.043	-53.49% (-0.02)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SG:N2IU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	S$1.27	S$1.29	+1.57%
Apr 24, 2025	S$1.18	S$1.18	0.00%
Jan 23, 2025	S$1.12	S$1.13	+0.89%
Oct 24, 2024	S$1.33	S$1.32	-0.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Mapletree Commercial (SG:N2IU) report earnings?

Mapletree Commercial (SG:N2IU) is schdueled to report earning on Oct 22, 2025, TBA (Confirmed).

What is Mapletree Commercial (SG:N2IU) earnings time?

Mapletree Commercial (SG:N2IU) earnings time is at Oct 22, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of Mapletree Commercial stock?

The P/E ratio of Mapletree Commercial is N/A.

What is SG:N2IU EPS forecast?

SG:N2IU EPS forecast for the fiscal quarter 2026 (Q2) is 0.02.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing