First Reit's DPU rises 3.6% in Q4 FY2014

SINGAPORE'S first healthcare real estate investment trust (Reit), First Reit, recorded a 3.6 per cent jump in distribution per unit (DPU) to 2.04 Singapore cents in Q4 FY14, the three months ended Dec 31, 2014.

Over the same period, gross revenue grew 4.6 per cent to S$23.9 million, mainly due to contributions from Siloam Hospitals Purwakarta, a hospital building in West Java which it had acquired in May last year, and increased turnover from its Indonesia and Singapore properties.

Property operating expenses for Q4 FY14 also decreased to S$376,000, mainly due to lower expenses incurred for Sarang Hospital, a rehabilitative and nursing facility in South Korea. Net property income gained 8.6 per cent to S$23.53 million while distributable amount jumped 7.2 per cent to S$14.96 million.