SPH Reit's Q4 DPU beats IPO forecast by 6.1%

Singapore

SPH Reit, which owns Paragon and The Clementi Mall, reported on Monday distributable income that came in above expectations, as well as continued full tenancy for the two retail malls in its portfolio.

The real estate investment trust, which is majority owned by media group Singapore Press Holdings, achieved an income distributable to unitholders of S$34.9 million for the fourth quarter ended Aug 31, 2014. This translates to a distribution per unit (DPU) of 1.39 Singapore cents for the quarter - 6.1 per cent higher than forecast in its initial public offering (IPO).