Ascendas India Trust said its distribution per unit (DPU) for the first quarter stood at 1.66 cents.
That’s down 19 per cent from the DPU of 2.06 cents achieved in the same period the previous year.
Unitholders’ distribution in the first quarter also fell 19 per cent on year to S$12.67 million.
Ascendas said this was mainly due to realised gains in the first quarter last year of S$4.1 million from the settlement of forward foreign exchange contracts.
Meanwhile, the trust’s net property income for the first quarter rose three per cent to S$18.9 million.
Looking ahead, the trust said it will be adding 1.2 million square feet of new space later this year from Park Square, a retail mall in Bangalore and Zenith, a multi-tenanted building in Chennai, for which pre-leasing is in progress.
The managers said they remain focused on positioning the trust to further create value for Unitholders by leveraging on India’s growth.
Source : Channel NewsAsia – 23 Jul 2010