Li Yeng Teng
Director of Investor Relations - MPACT Management Ltd.

Good morning, everybody and members of the public. Welcome to Mapletree Pan Asia Commercial Trust, or MPACT Analyst Briefing and Live Webcast for our results for the fourth quarter and financial year ending 31st March 2026. I'm Li Yeng, I have the pleasure of hosting today's results briefing.

Allow me to introduce our speakers for today. They are Ms. Sharon Lim, Chief Executive Officer of MPACT; Ms. Janica Tan, Chief Financial Officer; and Mr. Koh, Wee Leong, our Head of Investment and Asset Management. We will be presenting our financial results, providing business development and updates and sharing market insights. Following the presentation, we will open the floor for a Q&A session, where we invite you to ask questions or seek further clarification on our results.

Without further ado, I will hand the floor over to our CFO, Janica.

Bee Lian Tan
Chief Financial Officer of MPACT Management Ltd.

A very good morning. For FY '25-'26, this was a year of deliberate reshaping of MPACT, 3 non-core assets were divested, 2 in Japan completed in August last year. And in February, we completed the divestment of