Suntec Real Estate Investment Trust (Suntec REIT) has reported a 6.2 per cent on-year decline in distribution per unit at 2.326 cents for the fourth quarter of 2012. In a statement, ARA Trust Management (Suntec) Limited, manager of Suntec REIT, said its income available for distribution fell 5.3 per cent on-year to S$52.39 million in the fourth quarter. It added that fourth-quarter gross revenue and net...
REITS
Mapletree Industrial Trust has raised its distribution to unitholders for its fiscal third-quarter by 7.4 per cent from a year earlier, thanks to higher rentals and improved occupancy rates at some of its properties. Distribution per unit for the three months ended Dec. 31 was 2.32 Singapore cents, compared with 2.16 Singapore cents in same period last year, the real-estate investment trust said in a...
Frasers Centrepoint Trust’s (FCT) first quarter distribution per unit (DPU) increased 9.1 per cent on-year to 2.4 cents from 2.2 cents. That was FCT’s highest ever first quarter DPU. Gross revenue went up 5.8 per cent on-year in the three months ended Dec.31 to $37.9 million, while income available for distribution rose 10.8 per cent on-year to hit $21.8 million. The strong quarterly earnings came...
CapitaMall Trust Management on Friday said its distribution per unit (DPU) was up 2.6 per cent to 2.36 cents in the fourth quarter of 2012. For the full year, unitholders will receive a total of 9.46 cents for the fiscal year, compared to 9.37 cents in 2011. CapitaMall Trust Management said that for the fourth quarter of 2012, its distributable income grew 5.7 per cent to over S$79 million. For the full...
Warehouse operator Global Logistic Properties (GLP) said on Thursday it would exercise an option to sell three Japanese properties to Tokyo-listed GLP J-REIT for US$142 million (S$174 million), Dow Jones Newswires reported. The deal is part of a November transaction in which the Singapore-based company sold 30 Japanese warehouses to the real estate investment trust for 209 billion yen (S$2.8 billion), in...
Mapletree Logistics Trust (MLT) said on Thursday its distribution per unit for the fiscal third quarter rose 1.2 per cent, thanks to contributions from assets acquired last year and higher revenue from existing properties, Dow Jones Newswires reported. Unit holders will receive 1.72 Singapore cents per unit for the three months ended Dec 31, up from 1.70 cents in the corresponding period a year ago, the...
Ascendas Real Estate Investment Trust (A-REIT) has reported a 4.0 per cent on-year increase in distribution per unit (DPU) to 3.62 cents for its third quarter ended 31 December 2012. The amount available for distribution increased 11.9 per cent to S$81.1 million in the quarter under review. In a filing on the Singapore Exchange, A-REIT said it recorded positive rental reversion of between 5.5 per cent...
CDL Hospitality Trusts on Friday announced that it is buying the Angsana Velavaru resort in the Maldives from Banyan Tree Holdings for US$71 million (S$86.8 million). This marks the trust's first resort acquisition and a new geographic market segment. As part of the sale and leaseback agreement, CDL Hospitality Real Estate Investment Trust will grant a lease for the resort to Banyan Tree Holdings for 10...
With investors desperate for yield in a prolonged low-rate environment, shares of trusts have surged in Singapore and elsewhere in Asia. But that enthusiasm has been largely focused on real estate investment trusts (REITs) and has not been reflected in demand for business trusts. In Singapore, 90 per cent of the assets in a REIT must be fully developed and already drawing income. Business trusts,...
GLP J-REIT, a real estate investment trust set up by Singapore's Global Logistic Properties (GLP), will sell as much as ¥111 billion ($1.6 billion) worth of shares in its initial public offering in Japan, according to a regulatory filing yesterday. GLP, one of the world's largest warehouse operators, said last month it would sell shares in the REIT, which has 30 properties valued at US$2.6 billion (S$3.2...