Singapore

ASCENDAS Reit on Monday reported a 1.2 per cent drop in distribution per unit (DPU) to 4.002 Singapore cents for the first quarter ended June 30, 2018, from 4.049 cents last year.

However, this was due to the absence of a one-off distribution totaling S$5.9 million, mainly for upfront fees for some credit facilities. Excluding this, DPU would have grown 4 per cent, while amount available for distribution would have risen 4.1 per cent, the manager for the trust said.