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Viva Industrial Trust DPS up 2.2% for Q2

VIVA Industrial Trust (VIT) has posted a second-quarter distribution per stapled security (DPS) of 1.902 Singapore cents, up 2.2 per cent for the same period a year earlier.

Gross revenue rose 3.9 per cent to S$28.7 million while net property income was up 3.3 per cent to S$20.9 million.

Net asset value per stapled security was 76.20 Singapore cents as at June 30, from 76.51 Singapore cents as at Dec 31 last year.

VIT's overall portfolio occupancy has recorded a new high of 92 per cent in the second quarter.

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In the first half of 2018, the Reit manager renewed about 268,400 square feet (sq ft) or 44.6 per cent of the total area of about 602,500 sq ft that is due for renewal in 2018. It achieved an overall positive rental reversion of 2.3 per cent across the portfolio, the Reit manager said. About 117,000 sq ft of new leases were secured in the first half, it added.

An extraordinary general meeting and a scheme meeting will be held on Aug 31 where VIT will seek stapled securityholders's approval for a proposed merger with ESR Reit.