FCT's Q3 DPU slips 1.7% on expanded unit base

Singapore

CONTRIBUTIONS from Frasers Centrepoint Trust (FCT)'s holdings in associates PGIM Real Estate AsiaRetail Fund (PGIM ARF) helped to shore up third-quarter earnings for the retail landlord, as it faced lower net property income, higher borrowing costs and an expanded unit base.

Distribution per unit (DPU) edged down 1.7 per cent to three Singapore cents from 3.053 cents in the preceding year, on an enlarged unit base from FCT's completion of a private placement in May and preferential offering in June.