Singapore

PARKWAY Life Real Estate Investment Trust (PLife Reit) on Friday posted a 10.6 per cent increase in distribution per unit (DPU) for the fourth quarter, lifted by a one-off divestment gain.

DPU for the three months ended Dec 31 stood at 3.38 Singapore cents, up from 3.06 cents a year ago. This was boosted by a divestment gain from the sale of four Japan properties, which was announced on Dec 22, 2016.