CCT says negative rent reversion may hit growth

Singapore

CapitaLand Commercial Trust (CCT) on Thursday posted a 3.8 per cent increase in distribution per unit (DPU) to 2.2 Singapore cents for its first quarter ended March 31, 2019, up from 2.12 cents paid out a year ago.

This came on the back of a 8 per cent rise in distributable income to S$82.7 million, mainly due to better performance of the trust's portfolio as well as its distribution of tax-exempt income of S$3.4 million, which it didn't have a year ago.