MMP REIT posts S$17m distributable income for Q1

Mainboard-listed Macquarie MEAG Prime REIT (MMP REIT) has booked a distributable income of S$17 million for the first quarter, up nearly 22 per cent compared to the same period a year ago.

MMP REIT said that its earnings were driven by attractive acquisitions, tenancy remix as well as asset enhancement initiatives.

The REIT saw strong rental rates in Singapore. Its retail space was at full occupancy, while offices were 98 per cent occupied.

MMP REIT is proposing to pay out 1.76 cents for the first quarter, up 20 per cent on year. – CNA/vm

Source : Channel NewsAsia – 29 Apr 2008

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