Frasers Centrepoint Trust (FCT) has posted a 33.3 per cent on-year increase in its third quarter distribution per unit (DPU). The DPU of 2.60 Singapore cents for the April to June period is the highest the trust has ever paid out, up from 1.95 cents distributed in the same period a year ago. Net property income in the period grew 32.1 per cent on-year to S$24.6 million, up from S$18.7...
Singapore REITS
Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year. The Reit's DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year. Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust's...
Mapletree Logistics Trust (MLT) has reported a 6.3 per cent on-year rise in its distribution per unit (DPU) for its fiscal first quarter, with its financial performance boosted by contributions from newly acquired assets in Japan, South Korea and Malaysia. Its DPU climbed to 1.70 cents per unit from April to June, up from 1.60 cents in the same period last year. Revenue rose higher to S$77.1 million, up...
CapitaMall Trust Management Limited, the manager of CapitaMall Trust announced on Wednesday that it had achieved distributable income of S$79.6 million for the period 1 April to 30 June 2012 (2Q 2012), up 5.5% compared to S$75.5 million for the same period in 2011. Distribution per unit (DPU) for the second quarter was 2.38 cents, up 0.8 per cent from a year ago on the back of higher rents. Gross revenue...
Ascendas Hospitality Trust has reduced the size of its initial public offering in Singapore. It is now offering 437.325 million stapled securities, a downward revision from initial plans to sell between 506.075 million and 529.648 million units. In its prospectus registered on Wednesday, Ascendas Hospitality said the shares will be priced at S$0.88 per stapled security. Ascendas Hospitality will also...
Ascendas Real Estate Investment Trust (A-REIT) has reported a 10.3 per cent on-year increase in Distribution per Unit (DPU) to 3.53 cents for its first quarter ended 30 June 2012. In a filing on the Singapore Exchange, A-REIT said its DPU grew despite a 7.5 per cent increase in units outstanding. The amount available for distribution increased 16.1 per cent to S$76.5 million in Q1. For the first...
K-REIT Asia has announced that its second-quarter distribution per unit (DPU) rose 86.5 per cent to 1.94 cents, up from a restated 1.04 cents in the same period last year. Distributable income for the quarter ended June rose 89.5 per cent to S$49.8 million. The strong performance is due primarily to the income contribution from the 87.5 per cent interest in Ocean Financial Centre, acquired on December...
The property market is expected to see demand rise over the next 12 months from deep-pocketed institutional buyers such as real estate investment trusts (REITs), which are starting to see more value in the local marketplace, analysts say. More REIT listings are also likely to spur acquisitions here. The proposed listing of Ascendas Hospitality Trust is set to be Singapore's largest initial public offering...
Shareholders of Orchard Parade Holdings Limited (OPHL) have approved the firm's plans to divest three properties. This was agreed upon at an extraordinary general meeting held Wednesday, where 99.9 per cent of shareholders voted in approval. The three properties are: Orchard Parade Hotel, Albert Court Village Hotel and Central Square Village Residences. OPHL said in a statement that it would now proceed...
Singapore is set to see the launch of its largest initial public offering (IPO) for the year, with Ascendas Hospitality Trust lodging its preliminary prospectus with the Monetary Authority of Singapore (MAS) to list on the SGX Mainboard. The trust, which comprises a real estate investment trust and a business trust, plans to sell between 506 million and 530 million stapled securities in its IPO to raise...