CapitaCommercial Trust (CCT) will pay 11 cents per unit for its full year 2008, up 26 per cent from the previous financial year.
The trust reported distributable income of S$153 million for its financial year ended 31 December 2008.
CCT said it performed well in 2008 because of higher rental reversions and the addition of the One George Street property to the portfolio.
The trust has also refinanced S$580 million worth of commercial mortgage-backed securities ahead of the debt maturity in March 2009.
But things are expected to be challenging going forward due to the adverse economic climate.
CCT said it will focus on retaining its tenants and on being proactive in containing costs.
The trust said it expects to be able to deliver its 2009 forecast distribution per unit of 12.34 cents. It also has no immediate plans to raise equity.
Source : Channel NewsAsia – 20 Jan 2009