Mainboard-listed CDL Hospitality Trusts on Friday reported a higher distribution per unit (DPU) for the third quarter ended in September. It announced a DPU of 2.54 cents for the period, a 24.5 per cent jump compared with 2.04 cents in 2009. Distributable income rose 44.6 per cent to S$26.9 million, as net property income increased 40.9 per cent from a year earlier to S$30.1 million. The higher revenue...
Singapore REITS
CapitaMalls Asia (CMA) on Thursday reported a net profit of S$68 million for the third quarter. This is a 14 per cent increase from a year earlier. However, revenue for the same period slipped 22.1 per cent to S$42.5 million. CMA said the fall in revenue was mainly because of the divestments of three Malaysia malls to CapitaMalls Malaysia Trust, and Clarke Quay to CapitaMalls Trust. The company said...
Cache Logistics Trust has posted a distribution per unit (DPU) of 1.94 Singapore cents for the fiscal third quarter and net property income for the quarter was S$14.36 million. This represents an increase of around 13.5 per cent when compared with the previous quarter. Meanwhile, distributable income came in at S$12.3 million, a 13.5 per cent increase from the quarter before. The Cache portfolio...
Frasers Centrepoint Trust (FCT), a wholly-owned unit of Fraser and Neave Group, will acquire Bedok Point Mall from its parent company by Q2 next year, said Chew Tuan Chiong, chief executive of FCT. In January, FCT paid Frasers Centrepoint approximately $290 million for two malls, the YewTee Point at Choa Chu Kang and an extension to Northpoint at Yishun through the issuance of new units and taking on more...
Frasers Centrepoint Trust (FCT) has announced its full-year distribution per unit (DPU) of 8.2 cents. That's 9.2 per cent higher than the DPU of 7.51 cents achieved in the previous financial year. Distributable income for the year ended September 30 rose 26.1 per cent to S$59.1 million. Net property income jumped 33.7 per cent to S$80 million. FCT said the increase in revenue was boosted by the...
Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent. It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period. Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million. Starhill said the improvement in net property income is...
Singapore's real estate investment trusts (REITs) have risen more than 140 per cent since March 2009 and their value could go up by another 60 per cent, according to analysts. REITs are currently offering juicy yields, which may start looking less attractive to investors when Singapore government bond yields start to climb higher. Even then, analysts said there still are some standout performers among...
Ascendas India Trust today reported total property income for 1H FY2010/11 ending Sept 30, 2010, was $60.5 million, an increase of 1% from the same period last year. Net property income was $37.1 million, or marginally lower by 1%. In Indian Rupee terms, total property income was 2% higher, while net property income was unchanged in 1H FY2010/11, compared to the year before. For 2Q FY2010/11, total and...
Frasers Commercial Trust has posted a 55 per cent increase in its fourth-quarter distribution per unit to 0.31 cents. This is in line with its higher distributable income which rose 78 per cent to S$14.2 million. For the three months ended September 30, Frasers saw net property income rise by 16 per cent to S$23.2 million. Revenue increased 14 per cent to S$29 million. This was partly due to better...