Tag Archives: Singapore REITS

Frasers Commercial’s DPU & distributable income fall on-year

Posted on 24 Oct 2009 | Comments Off on Frasers Commercial’s DPU & distributable income fall on-year

Frasers Commercial Trust (FCOT) announced on Friday a third quarter distribution per unit of 0.2 cent.

That is 26 per cent lower than the 0.27 cent DPU for the same period last year, after making adjustments for a rights issue.

Distributable income for the period ended in September fell by 24 per cent on-year to S$6.14 million, though it was up by 10.4 per cent when compared to the previous quarter.

Net property income suffered a less drastic drop, declining 0.6 per cent on-year to S$19.9 million. Compared to the previous quarter, FCOT said its net property income increased by over 13 per cent.

The improvement was driven by the initial five weeks of ownership of Alexandra Technopark, a stronger Australian dollar and better occupancy levels.

FCOT said the last stage of its recapitalisation and refinancing will be completed in the next quarter.

Earlier this year, it announced a rights issue to raise S$214 million.

Source : Channel NewsAsia – 23 Oct 2009

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a-iTrust posts 3% climb in Q2 distributable income

Posted on 23 Oct 2009 | Comments Off on a-iTrust posts 3% climb in Q2 distributable income

ASCENDAS India Trust (a-iTrust) yesterday reported distributable income of $14.1 million for the second quarter ended Sept 30, up 3 per cent from $13.8 million a year ago.

Distribution per unit (DPU) for the three months rose to 1.85 cents, from the previous corresponding quarter’s 1.82 cents.

The trust, which owns business space in India, said that total property income for the quarter rose 2 per cent to $30.4 million, ‘despite the difficult business environment globally’.

Income held up as the trust was able to sustained an average occupancy of 97 per cent, or 98 per cent including committed leases.

Total property expenses, on the other hand, fell 20 per cent to $11.2 million on the back of lower operating, maintenance and security charges as a result of cost management (such as repackaging and retendering of contracts); and lower utilities expenses as the price of oil remained lower than a year ago. As a result, second-quarter net property income rose 22 per cent year-on-year to $19.2 million. Continue reading →

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