Sabana Reit's DPU constant at 0.88 Singapore cents

Singapore

LOWER contributions from some of its properties, cushioned by reduced property expenses, dented results for landlord Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) in its first quarter ended March 31.

Distribution per unit (DPU) was flat at 0.88 Singapore cents, thanks to the manager forgoing 20 per cent of its base fees in a goodwill move. DPU would have been 0.86 cents, up from 0.80 cents from the year-ago quarter when it waived 75 per cent, or S$944,000, of base fees.