Gross revenue over 4Q18 fell 5.5% to $89.6 million from $94.8 million a year ago, mainly due to a reversal in 4Q17 of VAT payable which was previously assumed at a higher rate for Gateway Plaza, in addition to a lower average rate of HKD against the SGD.
SINGAPORE (Apr 25): The manager of Mapletree Greater China Commercial Trust (MGCCT) has declared a distribution per unit (DPU) of 1.904 cents for 4Q18, down 2.8% from the DPU of 1.959 cents a year ago in 4Q17 on lower revenue caused by a reversal in VAT payable from the previous year.
This brings the available DPU for FY18 to 7.481 cents, which is 1.9% higher than the FY17 DPU of 7.341 cents.
