Tag Archives: Funds

Suntec REIT’s Q2 DPU down 6.8%

Posted on 20 Jul 2012 | Comments Off on Suntec REIT’s Q2 DPU down 6.8%

Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year.

The Reit’s DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year.

Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust’s divestment of Chijmes in January this year.

Gross revenue for the quarter has risen by 15.8 per cent to nearly S$71 million.

However, distributable income has fallen by 5.7 per cent to S$53 million.

“Despite the challenges in the office market, the (trust) manager is cautiously optimistic on the performance of its office portfolio,” the trust said in the statement.

Suntec City Office Towers has achieved a 100 per cent committed occupancy while the trust’s office portfolio committed occupancy has strengthened to 99.9 per cent.

Source : Channel NewsAsia – 19 Jul 2012

 

 

 

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Mapletree Logistics Trust DPU up 6.3% on-year

Posted on 20 Jul 2012 | Comments Off on Mapletree Logistics Trust DPU up 6.3% on-year

Mapletree Logistics Trust (MLT) has reported a 6.3 per cent on-year rise in its distribution per unit (DPU) for its fiscal first quarter, with its financial performance boosted by contributions from newly acquired assets in Japan, South Korea and Malaysia.

Its DPU climbed to 1.70 cents per unit from April to June, up from 1.60 cents in the same period last year.

Revenue rose higher to S$77.1 million, up 17.1 per cent year-on-year.

Meanwhile, distributable income climbed by 5.9 per cent to S$41 million.

“MLT’s larger portfolio of income-generating assets and prudent financial and capital management have enabled us to continue delivering sustained returns for our unitholders,” Richard Lai, chief executive officer of the trust’s manager, said.

“We are reviewing our assets closely to identify opportunities for asset rejuvenation or redevelopment, to maintain our competitive edge.”

In a statement, MLT said it has enjoyed a 99 per cent occupancy rate in the past quarter.

MLT is a wholly-owned subsidiary of Singapore developer Mapletree Investments.

Source : Channel NewsAsia – 19 Jul 2012

 

 

 

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