Key Points
- DPU of 1.79 cents for the reporting quarter.
- Annualised 1Q2011 Distribution Per Unit (DPU) increased 34.7% to 7.26 cents.
- Distributable income for 1Q2011 rose 36.1% year-on-year to $24.3 million on account of contributions from newly acquired assets – 50% interest in 275 George Street in Brisbane, the office tower at 77 King Street in Sydney, and the one-third interest in Marina Bay Financial Centre Towers 1 & 2 and Marina Bay Link Mall (MBFC Phase One).
- Net property income (NPI) increased 7.6% year-on-year to $$14.9 million as result of contributions from the two Australian assets, offset by the divestment of Keppel Towers & GE Tower.
- Singapore property portfolio committed occupancy rose to 99.0% as at end-March 2011 from 98.7% as at end-December 2010, and is higher than Singapore core CBD occupancy of 94.4%.
- Gearing as at end-March 2011 increased marginally to 37.4%, from 37.0% as at end-2010.
- NAV per unit was $1.49 as at 31 Mar 2011.
There will be no distribution for this quarter as the Reit has a semi-annual distribution policy.
The DPU was 1.71 cents in the previous quarter.
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