Tag Archives: Funds

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

 

 

 

Comments Off on Mapletree Industrial Trust DPU up 14.1% in Q1

Posted in Funds

Tagged , ,

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 , , ,