OUE C-Reit Q1 DPU falls 9% on enlarged unit base from placement

Singapore

HIGHER income support draw down helped OUE Commercial Reit (OUE C-Reit) post a 4.7 per cent rise in amount available for distribution for Q1FY18, while distribution per unit fell 8.9 per cent to 1.12 Singapore cents due to an enlarged unit base from the private placement completed in March last year.

Revenue edged 1.6 per cent lower year-on-year to S$44.1 million on the back of lower rental income, but net property income was 1.8 per cent higher at S$35.28 million due mainly to lower maintenance expenses and utilities cost. Meanwhile, the amount available for distribution to unitholders rose to S$17.42 million.