Frasers Commercial Trust announces DPU of 0.25 cents for Q3

Frasers Commercial Trust on Wednesday announced a distribution per unit of 0.25 cents for the fiscal third quarter.

This is an increase of 39 per cent compared to a year ago.

Meanwhile, net property income for the period grew 33 per cent to S$22.7 million and distributable income rose 39 per cent to S$7.7 million.

The growth was mainly due to contributions from Alexandra Technopark, the strengthening of the Australian dollar and lower finance costs attributable to the reduction in borrowings and lower interest rates.

Looking forward, CEO of the Trust Low Chee Wah said he is encouraged that overall portfolio occupancy has increased for the past quarter, helped by the improved economic outlook and better business sentiment.

He added that the Trust has received more leasing enquiries and better take-up rate in both Singapore and Perth.

The higher leasing activities have also translated to better rentals for the properties.

Source : Channel NewsAsia – 28 Jul 2010

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