Category Archives: Funds

Ascendas India Trust DPU down 20% in Q1

Posted on 24 Jul 2012 | Comments Off on Ascendas India Trust DPU down 20% in Q1

Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June.

This was mainly due to a weaker rupee which helped to reduce the trust’s distributable income by 19 per cent to S$9.2 million.

In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee.

Still, the trust’s total property income rose by 3 per cent to S$32 million in the latest three-month period, while net property income increased 1 per cent to S$17.8 million.

“The underlying portfolio performance remained strong, but we continue to face macro headwinds in the form of unfavourable currency movements,” Jonathan Yap, CEO of the Trustee-Manager, said in a statement.

The trust owns IT business parks in India and is constructing a new 600,000 square foot multi-tenanted building in International Tech Park Bangalore to tap the growing out-sourcing market.

The trust is also on the lookout for attractive acquisition opportunities, its statement said.

Source : Channel NewsAsia – 24 Jul 2012

 

 

 

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Mapletree Industrial Trust DPU up 14.1% in Q1

Posted on 24 Jul 2012 | Comments Off on Mapletree Industrial Trust DPU up 14.1% in Q1

Mapletree Industrial Trust (MIT) on Tuesday reported a 14.1 per cent year-on-year increase in its first quarter distribution per unit (DPU) to 2.26 cents.

The DPU was up from the 1.98 cents DPU it posted in the same period a year ago.

Distributable income for the quarter ended June also rose by 27.1 per cent to S$36.9 million from S$29 million last year.

The trust, partly-owned by Temasek Holdings, attributes the strong results to its flatted factories portfolio, positive rental revisions and stable occupancy in key property segments.

“Average passing rent increased to S$1.56 per square foot per month from S$1.55 psf/mth in the previous quarter. Average portfolio occupancy remained stable at 94.9 per cent,” the trust manager said in a statement on Tuesday.

Net property income for the three-month period was up 26.4 per cent to S$48.3 million from S$38.2 million.

The manager says it is cautiously optimistic that the trust will continue to perform well for the rest of the financial year given its healthy balance sheet and diversified portfolio.

Source : Channel NewsAsia – 24 Jul 2012

 

 

 

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