AA Reit's Q3 DPU down 2.8% to 2.77 cents
AIMS AMP Capital Industrial Reit (AA Reit) on Thursday announced a 2.8 per cent decrease in distribution per unit (DPU) to 2.77 Singapore cents for its third quarter ended Dec 31, 2016, down from 2.85 Singapore cents a year ago.
This came on the back of a 6.7 per cent fall in gross revenue from S$32.5 million last year to S$30.4 million this year, due mainly to lower rental contributions for the properties at 27 Penjuru Lane, 8 &10 Pandan Crescent as well as the loss in revenue due to the redevelopment of 8 & 10 Tuas Avenue 20.
This was partially offset by higher rental and recoveries for the property at 29 Woodlands Industrial Park E1.
Net property income slipped 6 per cent, from S$21 million a year ago to S$19.8 million. AA Reit said this was in line with lower gross revenue, and higher property expenses from higher expenditure to maintain its properties.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
SocGen Q1 profit slumps less than expected as investment bank surprises
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct