A-Reit's Q2 healthy despite industrial weakness
DPU drops due to absence of one-off item, but distributable income, revenue and net property income grow
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Singapore
ASCENDAS Reit (A-Reit) managed to turn in a healthy set of financial numbers as management adopts different ways to mitigate the industrial market weakness, which CEO of the manager Chia Nam Toon says is worse than a year ago.
A-Reit posted a 3.1 per cent drop in distribution per unit (DPU) to 4.03 Singapore cents for its second quarter ended Sept 30, 2016. But this was due to the year-ago distribution including a one-off S$6.5 million upfront fee for some credit facilities. Excluding this, DPU would have grown 3.6 per cent, it said.
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