Cache Logistics Trust reports DPU of 5.588 cents

Cache Logistics Trust reported a distribution per unit (DPU) of 5.588 cents – 1.2 per cent higher than its own forecast.

According to its financial statement for the period from April 12 – when it started operations – to December 31, net property income and gross revenue stood at $41.4 million and $42.4 million respectively.

The trust operates on a master lease structure, which aims to provide a high degree of predictability in cash flow and stability in earnings for the portfolio.

Going forward, the trust is confident of delivering its targeted DPU for the 2011 financial year and expects the demand for logistics properties in Singapore to remain robust.

Cache is managed by ARA-CWT Trust Management (Cache) Limited, a joint-venture REIT management company 60 per cent owned by ARA Asset Management Limited, an affiliate of Hong Kong tycoon Li Ka-Shing’s Cheung Kong Group; and 40 per cent owned by Singapore-listed CWT Limited, one of Southeast Asia’s largest listed logistics operators.

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