A-HTrust's 1Q DPS up 3.1%, lifted by divestment

Singapore

ASCENDAS Hospitality Trust's (A-HTRUST) distribution per stapled security (DPS) for the first quarter ended 30 June rose 3.1 per cent to 1.35 Singapore cents, thanks to the partial distribution of the proceeds from divesting two hotels in Beijing, and lower net finance costs.

However, gross revenue and net property income (NPI) both slid lower on the back of reduced contributions from its portfolio in Australia, foreign exchange translations and from the partial loss of income due to the divestment. In particular, the Australian dollar and the Japanese dollar both depreciated against the Singapore dollar.