Corporate digest

Digital Core Reit

PURE-play data centre real estate investment trust (Reit) on Thursday (Apr 21) posted US$12.1 million in first-quarter distributable income, beating its initial public offering (IPO) forecast of US$11.9 million by 1.9 per cent.

Gross revenue was 0.1 per cent lower than its IPO forecast, at US$26.5 million, for the first-quarter period. Net property income (NPI) beat its IPO forecast by 6.9 per cent, at US$17.9 million, for the same period.

As at Mar 31, the Reit's portfolio of 10 data centres had a value of US$1.46 billion, with a weighted average lease of expiry by an annualised rent of 5.5 years and 100 per cent occupancy based on net rentable square feet. The Reit's aggregate leverage stood at 26 per cent.

Units of Digital Core Reit closed at US$1.03, down 2.8 per cent or US$0.03 on Thursday before the business update was released.

Sembcorp Industries

Mainboard-listed Sembcorp industries announced the retirement of non-executive independent director Nicky Tan Ng Kuang on Thursday in a bourse filing.

Tan had been appointed to the role in 2015 and is retiring by rotation under article 94 of the company's constitution at the company's 24th annual general meeting held on Thursday.

After his departure, 6 independent directors will remain on the company's board.