CapitaCommercial Trust (CCT) on Wednesday said that its fourth-quarter distribution per unit (DPU) was 1.94 Singapore cents.
CCT reported a DPU of 1.88 Singapore cents in the fourth quarter of 2009.
Distributable income for the three-month period ended December 2010 rose 3.4 percent to S$54.7 million, up from the previous year’s figure of nearly S$53 million.
For the full year, its distributable income for 2010 was up 11.3 percent on-year to S$221 million.
CCT said the better performance was due to higher rental income and occupancy at its properties.
In addition, it said that the interest cost and operating expenses of its properties were closely managed.
Looking ahead, CCT said that about 60 percent of new Grade A office supply in Singapore, due for completion this year, has already been pre-leased.
It added that with new office supply expected to decrease sharply from 2012 and an economic recovery that is expected to spur office demand, there will likely be moderate rental growth this year.
Source : Channel NewsAsia – 19 Jan 2011