Category Archives: Funds

Starhill Global REIT reports 3.8% increase in Q2 DPU

Posted on 24 Jul 2012 | Comments Off on Starhill Global REIT reports 3.8% increase in Q2 DPU

Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier.

Net property income for the three-month period rose 4.4 per cent to S$37.1 million.

Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the same quarter last year.

Income to be distributed to unitholders went up 3.9 per cent to S$21 million from S$20.2 million.

“Healthy retail sales performance and rising tourist arrivals allowed SGREIT’s assets to continue achieving high occupancies and improved rents,” said Tan Sri Dato’ Francis Yeoh, executive chairman of YTL Starhill Global in a news release.

“We will continue to create value with our active management strategies and source for yield accretive acquisitions of prime assets in our core markets when opportunity arises.”

The REIT’s Singapore portfolio, comprising Wisma Atria and Ngee Ann City, contributed 62.8 per cent or S$29.1 million to total revenue.

Starhill Global said redevelopment at Wisma Atria has helped boost demand for retail space. The property has achieved 99.5 per cent occupancy and has seen a 33 per cent increase in rental for lease commitments from July 2011 to June 2011.

Meanwhile, its Malaysia portfolio, which includes Starhill Gallery and interest in Lot 10 at Bukit Bintang in Kuala Lumpur, provided 16.7 per cent or S$7.7 million of total revenue in the quarter.

The REIT also has properties in China, Japan and Australia.

Source : Channel NewsAsia – 24 Jul 2012

 

 

 

Comments Off on Starhill Global REIT reports 3.8% increase in Q2 DPU

Posted in Funds

Tagged , , ,

Frasers Centrepoint Trust’s Q3 DPU up 33.3%

Posted on 20 Jul 2012 | Comments Off on Frasers Centrepoint Trust’s Q3 DPU up 33.3%

Frasers Centrepoint Trust (FCT) has posted a 33.3 per cent on-year increase in its third quarter distribution per unit (DPU).

The DPU of 2.60 Singapore cents for the April to June period is the highest the trust has ever paid out, up from 1.95 cents distributed in the same period a year ago.

Net property income in the period grew 32.1 per cent on-year to S$24.6 million, up from S$18.7 million.

Meanwhile, the trust’s gross revenue climbed by 30.2 per cent to S$35.5 million, driven higher by the increase in revenue from Causeway Point.

Revenue from its biggest asset rose to S$15.5 million, up 45.4 per cent compared to the same period last year, during which the mall was undergoing extensive refurbishment.

Net property income for Causeway Point jumped 60.9 per cent to S$10.9 million.

However, net property income from Northpoint, its second-largest asset, fell 2.7 per cent to S$8.3 million due to higher repair and maintenance costs as well as increased electricity tariff rate.

The REIT’s distributable income has also risen, climbing nearly 37.1 per cent on-year to S$20.2 million.

FCT has maintained a positive outlook on its growth momentum, and said in a statement that it will continue to actively pursue growth opportunities.

Source : Channel NewsAsia – 19 Jul 2012

 

 

 

Comments Off on Frasers Centrepoint Trust’s Q3 DPU up 33.3%

Posted in Funds

Tagged , , ,