Mapletree Industrial Trust

[isaac]

2 July 2011 – Mapletree Industrial Trust Management Ltd. (“MITM”), the Manager of
Mapletree Industrial Trust (“MIT”), is pleased to announce that MIT has been awarded
Tranche 2 of JTC Corporation’s (“JTC”) second phase divestment exercise portfolio of
Flatted Factories and Amenity Centres (“Acquisition Portfolio”) at a price of S$400.3 million
(“Acquisition”).
Commenting on the award, Chief Executive Officer of MITM, Mr Tham Kuo Wei said, “There
are limited portfolio acquisition opportunities of this nature in Singapore. We are pleased to
have secured the Acquisition Portfolio which complements MIT’s existing Portfolio. The
Acquisition will increase the value of MIT’s investment properties by 18% to S$2.6 billion
while improving the diversification and resilience of the enlarged MIT Portfolio. Furthermore,
there is good embedded organic growth potential as the passing rent of the Acquisition
Portfolio is more than 30% below the latest JTC posted rents as at 1 July 2011.”
The Acquisition Portfolio consists of 11 properties in 5 Property Clusters (“Property Cluster”),
comprising 8 Flatted Factories and 3 Amenity Centres. The properties in the Acquisition
Portfolio are located in established industrial estates at the Central and Eastern regions of
Singapore and well-connected by major roads and expressways. They are adjacent to or
near existing MIT properties and have similar characteristics, thus offering opportunities for
improvements in leasing and operational efficiencies.





Gearing already at 36%. Rights issue or placement coming?