Investor Presentaiton
Outlook
mapletree
industrial
Challenging operating environment in view of global uncertainties
➤ Global economic activity continued to soften, amid the effects of tight monetary policies, restrictive
financial conditions, and weak global trade growth1
× Rising property operating expenses and increases in borrowing costs from the replacement of expiring
interest rate swaps could continue to exert pressure on distributions. The Manager will adopt cost-
mitigating measures while focusing on tenant retention to maintain a stable portfolio occupancy level as
well as prudent capital management to balance the risks and costs in the elevated interest rate
environment
Singapore
• The Singapore economy expanded by 1.1% in 2023, moderating from 3.8% expansion in 2022. MTI
maintained the GDP growth forecast for 2024 at "1.0% to 3.0%"²
•
Business sentiments rose slightly for the second consecutive quarter in 1Q2024 due to the optimism
within the construction and transportation sectors. The outlook for local businesses was expected to
remain cautiously optimistic amid downside risks in the global economy and ongoing geopolitical
conflicts³
1 Source: World Bank Group, Global Economic Prospects, Jan 2024.
2 Source: Ministry of Trade and Industry (MTI), 15 Feb 2024.
3 Source: Singapore Commercial Credit Bureau, 1Q2024.
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