Ascendas REIT books 20% improvement in H1 distributable income to S$80m

Ascendas REIT says its distributable income for the first half of the year improved by 20 percent on year.This amounts to over S$80 million.

This will give a distribution of 6.25 cents per unit for the six months to September.

For the second quarter alone, its distributable income was up 19 percent to S$40 million.

In line with the growing economy in Singapore, the property trust expects demand for business and science park space to remain healthy.

In addition, a spillover effect from the present tight office supply and rising office rentals is likely to increase demand for business park and industrial space.

Source: Channel NewsAsia, 17 October 2006

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