---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000616887.md"
description: "$Mapletree PanAsia Com Tr(N2IU.SG)🇸🇬MPACT: The Pan-Asian Giant. Stabilising or a Bargain Hunt?Is the strong SGD a headwind or a tailwind for S-REITs? 🤔 Following a recent CNA feature, I took a closer look at MPACT’s FY25/26 earnings report, announced on 28 April 2026, to find out. Here is my breakdown of how a strong currency and high interest rates are shaping this “Blue Chip” giant.🔷 The Backbone: Sponsor & StrategyBacked by Mapletree Investments, MPACT anchors its portfolio with Singapore “trophy” assets like VivoCity and Mapletree Business City. These portfolio assets remain rock-solid but its pan-Asian footprint introduces currency risks.🔷 FY25/26 Fact Check & Metrics🟢 DPU : Dipped 0.6% to 7.97 cents. With the surging SGD, it dampen overseas income. Singapore’s 4.1% NPI growth provided a vital buffer. Still, currency headwinds triggered a S$301.1 million overseas valuation drop as the SGD outperformed the HKD, JPY, and KRW.🟢 Gearing: Improved to 36.5% (down from over 40%) following the strategic divestment of Festival Walk Tower and other assets.🟢 Occupancy: Portfolio stands at 89.4%. VivoCity is at 100% but its North Asian markets continue to drag down the average.🟢 WALE: 2.4 years, reflecting the shorter retail/office lease cycles in the region.🔷 The VerdictAt a Price/NAV of approximately 0.82 and a yield of roughly 5.7%, MPACT is trading at a significant discount to book value.🟢 Buy if: You want exposure to premium Singapore retail at a “bargain” price and can stomach near-term forex volatility from China/HK.🟢 Hold if: You remain cautious about the impact of a persistent strong SGD on repatriated overseas earnings.Final Thought: For income seekers, MPACT’s Singapore core serves as the ultimate defensive moat in a volatile world. 🇸🇬💰Not financial advice. Always do your own DD!"
datetime: "2026-04-29T00:23:34.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000616887.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000616887.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000616887.md)
author: "[Fattycat](https://longbridge.com/en/profiles/19854884.md)"
generator: "portal-rs"
---

# $Mapletree PanAsia Com Tr(N2IU.SG)🇸🇬MPACT: The Pan…


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## Comments (1)

- **Khar Khuen · 2026-04-29T05:59:20.000Z**: Nice share👍


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**