Corporate digest

Soilbuild Reit

SOILBUILD Business Space Reit (Soilbuild Reit) on Thursday reported an 8.1 per cent year-on-year increase in net property income for the second quarter to S$18.7 million. For the three months ended June 30, 2017, the Reit recorded a distribution per unit (DPU) of 1.466 Singapore cents, down 6.3 per cent from 1.565 Singapore cents a year ago. Distributable income rose 4.3 per cent to S$15.4 million.

SB Reit Management, the manager of Soilbuild Reit, said that gross revenue and net property income rose by 10.1 per cent and 8.1 per cent, respectively, due to higher revenue from Bukit Batok Connection, West Park BizCentral, Solaris, Tuas Connection and Tellus Marine. It was partially offset by reduction in revenue from 72 Loyang Way. Soilbuild Reit's gross revenue stood at S$21.6 million for Q2 2017. The Reit closed trading at S$0.74 on Thursday, up half a cent, or 0.68 per cent.