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Frasers Commercial Trust reports 3% DPU rise in Q3

FRASERS Commercial Trust (FCOT) on Friday said that distribution per unit (DPU) for its fiscal third quarter rose 3 per cent on higher net property income.

DPU for the three months ended June 30, 2016 stood at 2.41 Singapore cents, compared to 2.35 Singapore cents from a year ago.

Net property income for the quarter rose 16 per cent to S$28.1 million, mainly due to the completion of the acquisition of 357 Collins Street; higher income contribution from Alexandra Technopark; and lower repair and maintenance and painting expenses for Caroline Chisholm Centre.

The increase was partially reduced by the effects of the weakening Australian dollar on the income from Australian properties, and lower occupancy rate for China Square Central and Central Park.

It also announced that Microsoft has extended its lease at Alexandra Technopark for a further five years to fiscal 2022.