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.