Category Archives: Funds

Parkway Life REIT reports 2.9% increase in Q1 DPU

Posted on 10 May 2013 | Comments Off on Parkway Life REIT reports 2.9% increase in Q1 DPU

Parkway Life REIT reported a 2.9 per cent on-year increase in its first-quarter distribution per unit (DPU) to 2.64 Singapore cents.

Excluding a one-off tax adjustment, the REIT said DPU would have increased 7 per cent.

Gross revenue rose 1.1 per cent to S$23 million, while net property income climbed 1.8 per cent to S$21.5 million.

Parkway Life REIT said this was mainly due to full-quarter contributions from its Japan and Malaysia properties.

It remains cautiously optimistic about its near-to-medium-term acquisition prospects and believes that the region’s healthcare industry will remain robust due to demand for quality private healthcare services driven by fast-ageing populations.

Source – Today – 9 May 2013

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Roxy-Pacific Q1 net profit up 31%

Posted on 6 May 2013 | Comments Off on Roxy-Pacific Q1 net profit up 31%

Property and hospitality group Roxy-Pacific Holdings posted a 31 percent rise in net profit to S$11.8 million in the first quarter of 2013 from S$9.0 million over the same period last year.

Gross profit also increased to S$18.3 million, up 10 percent from last year’s S$16.6 million, while revenue surged 41 percent to S$53.7 million from S$38.1 million.

“We are pleased to begin this new financial year with a strong set of first quarter results. The group’s earnings growth came on the back of positive performance from our property development and property investment segments and higher share of results from associates,” said Teo Hong Lim, Executive Chairman and CEO of Roxy-Pacific.

The firm’s property development business saw a 72 percent growth in turnover from S$24.6 million in Q1 2012 to S$42.4 million in Q1 this year, accounting for 72 percent of the group’s total revenue. The increase was due to revenue achieved from six projects – The MKZ, Treescape, Spottiswoode 18, Straits Residences, Space@Kovan and Jupiter 18.

At the same time, hotel ownership accounted for 20 percent of the total revenue, while the remainder came from property investment.

Source : PropGuru – 6 May 2013

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