Cityspring Infrastructure Trust to pay 1.6 cents per unit for Q4

Cityspring Infrastructure Trust said it is paying out 1.6 Singapore cents per unit in its fourth quarter.

This is 6.7 per cent higher than the figure projected during its initial public offering in February 2007.

The trustee manager reported a smaller fourth quarter loss of S$11.7 million, compared with a projected loss of S$18.7 million.

Revenue amounted to nearly S$96 million, compared with the S$98.6 million that was projected.

However, Cityspring achieved stronger-than-expected cash earnings of S$20.4 million for the quarter.

It said its initial assets, City Gas Trust and SingSpring Trust, performed better than projected in the three months to March.

The healthy performance by City Gas was underpinned by increased town gas sales.

SingSpring continued to meet the desalinated water production requirements by the PUB during the quarter. – CNA/vm

Source : Channel NewsAsia – 28 May 2008

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