Category Archives: Funds

a-iTrust posts 3% climb in Q2 distributable income

Posted on 23 Oct 2009 | Comments Off on a-iTrust posts 3% climb in Q2 distributable income

ASCENDAS India Trust (a-iTrust) yesterday reported distributable income of $14.1 million for the second quarter ended Sept 30, up 3 per cent from $13.8 million a year ago.

Distribution per unit (DPU) for the three months rose to 1.85 cents, from the previous corresponding quarter’s 1.82 cents.

The trust, which owns business space in India, said that total property income for the quarter rose 2 per cent to $30.4 million, ‘despite the difficult business environment globally’.

Income held up as the trust was able to sustained an average occupancy of 97 per cent, or 98 per cent including committed leases.

Total property expenses, on the other hand, fell 20 per cent to $11.2 million on the back of lower operating, maintenance and security charges as a result of cost management (such as repackaging and retendering of contracts); and lower utilities expenses as the price of oil remained lower than a year ago. As a result, second-quarter net property income rose 22 per cent year-on-year to $19.2 million. Continue reading →

Comments Off on a-iTrust posts 3% climb in Q2 distributable income

Posted in Funds

Tagged , , ,

First Reit Q3 DPU falls to 1.90 cents

Posted on 23 Oct 2009 | Comments Off on First Reit Q3 DPU falls to 1.90 cents

FIRST Real Estate Investment Trust (First Reit) reported third-quarter distributable income of $5.22 million, versus $5.26 million a year earlier, its manager Bowsprit Capital Corporation said yesterday.

Distribution per unit (DPU) for Q3 to Sept 30 was 1.90 cents, compared with 1.92 cents in the previous corresponding period.

Based on First Reit’s closing price of $0.715 on Oct 20, and annualised DPU of 7.62 cents, yield was healthy at 10.7 per cent for Q3, Bowsprit said.

The healthcare Reit’s gross revenue and net property income remained stable at $7.6 million and $7.5 million respectively.

Bowsprit chief executive Ronnie Tan said: ‘We have seen stronger occupancy at our three Indonesians hospitals, as more patients stayed back to seek medical care instead of travelling abroad.

‘Continuing growth in this sector will provide an upside potential for First Reit as our Indonesian assets enjoy a variable rental growth component in addition to annual escalation.’ Continue reading →

Comments Off on First Reit Q3 DPU falls to 1.90 cents

Posted in Funds

Tagged , ,