Keppel Reit gearing drops in Q4, DPU up

Singapore

OFFICE landlord Keppel Reit is "comfortable" with having its gearing just below 40 per cent and has no immediate plans to raise more cash to pare down debt, the head honcho of the trust manager said on Monday as it posted a higher distribution per unit (DPU) for the fourth quarter.

Ng Hsueh Ling, chief executive officer of the real estate investment trust manager, told a results briefing at its Bugis Junction office that the Reit's gearing had dropped by about 8 per cent to 39.3 per cent as at Dec 31 from 42.6 per cent as at Sept 30, and that she was "trying . . . not to take any more loans or not to draw down on any more loans".