Singapore

ASCENDAS Hospitality Trust (A-HTrust) on Friday posted a 19.3 per cent drop in distribution per stapled security (DPS) to 1.3 Singapore cents for its third quarter ended Dec 31, compared to 1.61 cents a year ago. This was because distributable income fell due to the costs incurred in the unwinding of the AUD/SGD cross-currency swaps, as well as the continued weakening of the Australian dollar and Japanese yen against the Singapore dollar.

Distributable income fell to S$14.5 million for the quarter, 12.9 per cent lower than a year ago. The trust said that excluding the costs for unwinding the swaps, DPS would have fallen a milder 4.8 per cent to 1.57 cents.