EarningsQ2 2026 Earnings Report

Mapletree Pan Asia Commercial Trust (MPCMF) Q2 2026 Earnings Report

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Previous Report: Q1 2026

Next Report: Q3 2026

MPCMF Q2 2026 EPS Results

Actual EPS$0.02

Consensus EPS$0.02

Beat/MissMet expectations

One Year Ago EPS>-$0.01

MPCMF Q2 2026 Revenue Results

Actual Revenue$171.20M

Expected Revenue$173.50M

Beat/MissMissed by -$2.30M

YoY Revenue Growth-3.23%

Earnings Announcement Details

QuarterQ2 2026

Date10/22/2025

TimeBefore Open

Conference CallWednesday, October 22, 2025

MPCMF Upcoming Earnings

Mapletree Pan Asia Commercial Trust's next earnings date is estimated for October 30, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MPCMF Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Oct 22, 2025|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call presented a mixed picture, with strong performance in the Singapore market and effective debt management being offset by significant challenges in overseas markets, particularly in Hong Kong and China.

Company Guidance

During the Mapletree Pan Asia Commercial Trust (MPACT) analyst briefing for the second quarter of fiscal year 2026, the company provided several key financial metrics and insights. For the second quarter, the distributable income (DI) was SGD 106.1 million, representing a 2.1% increase from the previous year, while the distribution per unit (DPU) rose by 1.5% to 2.01%. The improvement was largely attributed to interest rate savings from lower Hong Kong dollar and Singapore dollar borrowings, as well as proactive debt reduction efforts. However, these gains were partially offset by unfavorable foreign exchange impacts from the depreciating Hong Kong dollar and renminbi, and higher withholding tax on Japan's property divestments. The net property income (NPI) for Singapore properties increased by SGD 6.2 million due to lower utility costs and higher rental income, although overseas properties experienced a decline in NPI due to lower occupancies and negative rental reversions. MPACT's balance sheet showed a net asset value (NAV) of SGD 1.75, with the divestment of two Japanese properties contributing to debt repayment. The weighted average cost of debt decreased to 3.23% per annum, aided by favorable interest rate conditions, and the interest coverage ratio (ICR) improved to approximately 3x. MPACT maintained a well-distributed debt profile, with no more than 24% of debt expiring in any single financial year, and 77.5% of its debt was fixed rate to guard against interest rate volatility. Furthermore, MPACT had SGD 0.9 billion in financial flexibility, including cash and undrawn facilities, to ensure liquidity.

Increased Distributable Income

Distributable income for the second quarter was SGD 106.1 million, a 2.1% increase year-on-year, supported by lower interest rates on Hong Kong dollar and Sing dollar borrowings.

Singapore Market Strength

NPI for Singapore properties increased by SGD 6.2 million due to lower utility costs, higher rental income, and compensation income, with Singapore accounting for over 60% of gross revenue and NPI.

Proactive Debt Management

Aggregate average ratio improved from 37.9% to 37.6%, with weighted average cost of debt declining by 9 basis points to 3.23% per annum.

VivoCity Performance

VivoCity maintained 100% occupancy with a 14% positive rental reversion, supported by completed AEI works and increased tenant sales.

MPCMF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 30, 2026	2027 (Q2)	0.02 / -	0.016	―
Jul 30, 2026	2027 (Q1)	0.02 / 0.01	0.015	-10.53% (>-0.01)
Apr 28, 2026	2026 (Q4)	0.02 / >-0.01	0.059	-106.67% (-0.06)
Jan 29, 2026	2026 (Q3)	0.02 / 0.02	0.014	11.11% (<+0.01)
Oct 22, 2025	2026 (Q2)	0.02 / 0.02	-0.002	1100.00% (+0.02)
Jul 30, 2025	2026 (Q1)	0.02 / 0.01	0.016	-9.52% (>-0.01)
Apr 24, 2025	2025 (Q4)	0.02 / 0.06	0.038	53.06% (+0.02)
Jan 23, 2025	2025 (Q3)	0.02 / 0.01	0.017	-18.18% (>-0.01)
Oct 24, 2024	2025 (Q2)	0.02 / >-0.01	0.016	-110.00% (-0.02)
Jul 30, 2024	2025 (Q1)	0.02 / 0.02	0.016	5.00% (<+0.01)

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