Tag Archives: Ascendas India Trust

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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AI REIT units obtain S$74m in term loan facilities from DBS Bank

Posted on 11 Nov 2009 | Comments Off on AI REIT units obtain S$74m in term loan facilities from DBS Bank

Singapore-listed Ascendas India Trust said that two of its subsidiaries have obtained term loan facilities amounting to around S$74 million from DBS Bank.

The facilities will mature in December 2015 and carry an interest rate of 10 per cent a year. They will be used to fund the construction of a retail mall development in Bangalore and a multi-tenanted building development in Chennai.

The property trust said that up to this point, the ongoing construction of these two projects has been financed by its existing debt and cash.

In addition, Ascendas India trust also issued two series of three-year senior unsecured fixed rate notes totalling S$60 million. The notes come under its S$500 million multi-currency medium-term note programme, and were arranged by DBS Bank and Standard Chartered Bank.

The proceeds will be used to fully fund the development of a multi-tenanted building in the International Tech Park, Bangalore, as well as to meet working capital requirements.

The loan facilities coupled with the notes issuance are expected to raise the trust’s gearing level to around 20 per cent, from 13 per cent as of September, assuming no upward revaluation of its properties.

Source : Channel NewsAsia – 10 Nov 2009

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