Corporate digest

Aims Apac Reit

AIMS Apac Reit on Thursday posted a distribution per unit (DPU) of 2.5 Singapore cents for its first quarter ended June 30, unchanged from the year-ago period. Net property income grew 18.1 per cent to S$22.9 million, from S$19.4 million in Q1 2019, on higher gross revenue and lower property operating expenses arising from the adoption of Financial Reporting Standard 116 (FRS 116).

Gross revenue rose 5.8 per cent to S$30.6 million mainly due to maiden rental contribution from the property at 51 Marsiling Road from April 27, 2018, as well as higher rental and recoveries for the properties at 8 Tuas Ave 20, NorthTech, 103 Defu Lane 10 and 20 Gul Way.