Frasers Commercial Trust's Q2 distribution income rises 17%

FRASERS Commercial Trust on Thursday said distribution income for unitholders rose 17 per cent in its fiscal second quarter on higher net property income.

Distribution income for the three months ended March 31, 2015, stood at S$16.2 million, up from S$13.8 million a year ago. This translated to 2.38 Singapore cents in its income available for distribution per unit, up from 2.05 Singapore cents a year ago.

Net property income rose 14 per cent to S$24.7 million due to higher income contribution from the underlying leases of Alexandra Technopark, as well as higher income contribution from China Square Central and 55 Market Street on the back of higher occupancy rates and higher rental rates.