Mui Lian Cheng
Senior Manager of Investor Relations & Sustainability

Thanks for joining us this morning for MIT 4Q and Full Year FY '26 Results Briefing. MIT has released its results yesterday after market closed. I'll ask the management team to present the key highlights of the results. Ms. Ler Lily, CEO; Khoo Geng Foong, CFO; Mr. Peter Tan Head of Investments; Ms Serene Tan, Head of Asset Management; Ms. Chng Siok Khim of Marketing; and Ms. Sara Wayson, Head of Asset Management Data Center U.S.

Now I'll pass to Geng Foong to bring us through the highlights of the results.

Geng Foong Khoo
Chief Financial Officer

Good morning, everyone. Thank you for joining us for MIT Full Year FY '25-'26 Financial Results Briefing. I'll bring you through the financial performance and update on capital management. Thereafter, Lily will go through portfolio update and give you some color on MIT's outlook.

For full year, during the year, we divested 3 properties in Singapore. The lower NPI is largely due to absence of income from these 3 properties. There is also lower contribution from nonrenewal of leases in the North American portfolio and a weaker U.S. dollar against Sing dollar. These were partially offset by higher contribution