OUE C-Reit posts 12% increase in Q4 DPU, NPI soars post-merger
It saw a full quarter's contribution of merger with OUE Hospitality Trust and contribution from OUE Downtown Office
Singapore
OUE Commercial Real Estate Investment Trust (C-Reit) posted a 12 per cent year-on-year rise in distribution per unit (DPU) to 0.84 Singapore cent for the fourth quarter ended Dec 31, 2019.
Revenue surged over 80 per cent to S$86.79 million, while net property income jumped nearly 93 per cent to S$70.58 million on the back of a full quarter's contribution of the merger with OUE Hospitality Trust as well as contribution from OUE Downtown Office, which was acquired on Nov 1, 2018.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Amazon’s Twitch starts rival to TikTok in short-form video
Pinterest revenue surges on popularity of shopping push
Binance founder Zhao Changpeng gets 4 months in prison
Tesla axes most of Supercharger team in blow to other automakers
Amazon results beat estimates, revenue forecast misses
Starbucks points to weaker consumer as profit falls