Ascendas REIT’s Q3 DPU rises 0.6%

Mainboard-listed Ascendas REIT’s distribution per unit (DPU) for the third quarter grew 0.6 per cent.

The trust said in a statement that unit holders will receive 3.29 Singapore cents per unit for the three months ended December, compared with 3.27 cents a year earlier.

This came on the back of higher gross revenue, which rose 3.7 per cent to S$109 million in the quarter.

Net property income for the period also increased 2 per cent to S$83 million.

Ascendas REIT said in spite of Singapore’s strong economic performance in 2010, uncertainties remain for the group’s current financial year.

Occupancy for the group’s entire portfolio has improved from the previous quarter to 95.6 per cent.

For the balance of the current financial year, only 2.9 per cent of Ascendas REIT’s revenue is due for renewal.

The trust has a mix of long and short-term leases with a weighted average lease to expiry of about 4.8 years.

Source : Channel NewsAsia – 17 Jan 2011

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