Cache Logistics Trust DPU down for Q4 2018

Singapore

PERP holders might be pleased, but Cache Logistics Trust unit holders will have to grin and bear it.

Payments to perpetual security owners ate into fourth-quarter distributable income for the three months to Dec 31, 2018 - kicking distribution per unit (DPU) down to 1.502 Singapore cents, from 1.597 Singapore cents the year before.

Distributable income slipped by 5.3 per cent year on year to S$16.2 million, no thanks to the S$1.4 million perp payment and a withholding tax on the quarter's divestment of Jinshan Chemical Warehouse. Net property income dipped by 0.6 per cent to S$23.4 million, on lower contribution…