SINGAPORE (Jan 26): Mapletree Industrial Trust’s (MIT’s) distribution per unit rose 5.6% to 2.82 cents in the third quarter ended Dec 31, 2015, from 2.67 cents a year ago.

Income available for distribution income was 9.5% higher at $50.3 million.

Net property income grew 6.7% to $61.88 million from $57.98 million previously.

MIT says its “credible” set of financials was underpinned by contribution from the completed BTS data centre at 26A Ayer Rajah Crescent, as well as stable occupancies and rental rates across various segments.

MIT says it will suspend the application of the dividend reinvestment plan after the 3QFY15/16 distribution as it has sufficient financial capacity to support potential growth opportunities in the near term.

Nevertheless, it expects the business environment to be challenging ahead in view of the upcoming supply of industrial space and rising interest rates.

It says the cost increase of outsourced service contracts is likely to weigh on rental and occupancy rates, while property expenses and interest expenses are expected to increase.

MIT ended down 1.5 cents or 0.9% at $1.495.