Tag Archives: Funds

CAPITACOMMERCIAL Trust (CCT) has posted a 20.8 per cent year-on-year increase in distributable income for the third quarter to $52.14 million.

Net property income rose by 15.5 per cent to $77.1 million on the back of positive rent reversions as well as cost savings from lower property taxes.

In addition, CCT’s distributable income for Q3 was boosted by lower interest expense arising from the prepayment in July of a $664 million debt from proceeds from the trust’s rights issue in June.

CCT’s distribution per unit (DPU) for Q3 ended Sept 30, 2009, was 1.85 cents, down from 3.10 cents in Q3 last year.

After adjusting for the issued rights units, the DPU rose from 1.54 cents to 1.85 cents, the trust manager said. Unitholders will not receive any distribution for Q3 as the trust distributes semi-annually. Continue reading →

CapitaCommercial Trust (CCT) has said its distribution per unit (DPU) for the third quarter ended in September is 1.85 cents.

This is a 20.1 per cent on-year rise, with last year’s DPU restated to 1.54 cents after adjusting for a rights issue.

Distributable income for the third quarter came in at S$52.1 million, up about 21 per cent on-year.

CCT’s CEO, Lynette Leong, said the performance over the period was boosted by proactive lease and cost management strategies.

For the quarter, CCT successfully signed leases with companies such as serviced office operator Servcorp and financial services firm Exane SNC.

Going forward, Ms Leong said she expects positive demand for office space to return and rental rates to stabilise if Singapore’s economic recovery continues. Continue reading →