FCT manages higher Q1 DPU on lower property expenses

Singapore

FRASERS Centrepoint Trust (FCT), which owns a string of suburban retail malls in Singapore, has posted distribution per unit (DPU) of 2.87 Singapore cents for the first quarter ended Dec 31, 2015, up 4.4 per cent from the 2.75 cent DPU in the same year-ago period. Unitholders will receive their payout on Feb 29.

The counter closed 2.5 cents lower at S$1.84 on Thursday. Net asset value per unit was S$1.91 as at Dec 31, 2015, unchanged from Sept 30, 2015.

Income available for distributi…