FCOT Q2 distributable income up 19.5%

Singapore

CITING the resilience of its Grade B offices in Singapore and an Australian acquisition, Frasers Commercial Trust (FCOT) on Thursday posted a 19.5 per cent jump in fiscal second- quarter distributable income to S$19.35 million.

Distribution per unit (DPU) for the three months ended March 31 rose 2.9 per cent to 2.45 Singapore cents despite a higher unit base arising from the issue of new units in a private placement completed in August 2015. The placement was to partially fund the acquisition of the Melbourne office building.