Frasers Hospitality Trust

HOTELS and serviced residences owner Frasers Hospitality Trust (FHT) reported a distribution per stapled security (DPS) of 1.51 Singapore cents for its third quarter ended June 30, down 3 per cent from 1.56 cents a year ago. This was due to a higher number of stapled securities of 1.38 billion at end-June compared with 1.2 billion a year ago. Net property income rose 40.5 per cent to S$27 million for the quarter compared to a year ago, while gross revenue was up 33.9 per cent to S$31.7 million. These increases were due to newly-added Maritim Hotel Dresden making its first contributions in the third quarter. They were also boosted by the addition of Sofitel Sydney Wentworth since July 2015. Net asset value per stapled security was 79.97 Singapore cents at end-June. FHT closed flat on Friday at S$0.785.

Far East Orchard