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.

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
Feb 03, 2026	2026 (Q3)	0.02 / -	0.018	―	―	―
Oct 22, 2025	2026 (Q2)	0.02 / 0.02	-0.002	1100.00% (+0.02)	―	―
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)	―	―

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
Oct 22, 2025	S$1.46	S$1.46	0.00%
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%

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 Feb 03, 2026, TBA (Confirmed).

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

Mapletree Commercial (SG:N2IU) earnings time is at Feb 03, 2026, 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 (Q3) is 0.02.

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