Singapore

CONTRIBUTION from the Kupang Property, which consists of Siloam Hospitals Kupang and Lippo Plaza Kupang acquired in December 2015, lifted First Reit's fourth quarter distribution per unit (DPU) to 2.13 Singapore cents, up from 2.09 cents a year ago.

For the three months ended Dec 31, 2016, the Singapore-listed healthcare real estate investment trust's (Reit's) distributable income grew 5.1 per cent year-on-year to S$16.5 million. This was despite a net fair value loss of S$8.9 million on investment properties, which was more than offset by a S$15.4 million revaluation gain on interest rate swap contracts.