EC World Reit reports 5.5% decline in Q4 DPU

Singapore

EC World Reit's (ECW) distribution per unit (DPU) for the fourth quarter ended Dec 31, 2020 fell 5.5 per cent to 1.427 Singapore cents, from 1.51 cents a year ago.

However, gross revenue rose 14.2 per cent year-on-year to S$29.53 million, while net property income (NPI) was up 11.1 per cent at S$27.2 million. Gross revenue and NPI were bolstered by the acquisition of e-commerce logistics asset Fuzhou E-commerce, organic rental escalations and the appreciation of the yuan against the Singapore dollar, it said.