Saizen Reits posts Q4 loss of $2.76m

Mainboard-listed Saizen Reit said Thursday it has made a loss of 183 million yen (about S$2.76 million) in the fourth-quarter ended June.

Net property income for the period came in at 708.6 million yen.

That is a 12 per cent increase in net property income as compared to the same period last year.

The trust, which focuses solely on Japanese property, has recommended the suspension of distribution since the start of its 2009 financial year.

It said the move is to conserve cash, and expects to start accumulating cash for distribution from the last quarter of 2010 or the first quarter of 2011.

Source : Channel NewsAsia – 27 Aug 2009

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