Wednesday, July 18, 2012

Income boost for Ascendas Reit


Straits Times: Wed, Jul 18

CONTRIBUTIONS from completed developments and new acquisitions gave the bottom line of Ascendas Real Estate Investment Trust (Reit) a tonic in the first quarter.

Distributable income rose 16.1 per cent to $76.5 million for the three months to June 30.

Gross revenue rose 18.4 per cent to $142 million and net property income increased 13.9 per cent to $101.1 million.

Distribution per unit was 3.53 cents, up from 3.2 cents in the same period a year ago.

Acquisitions made since June last year and the completion of the Reit's own projects were behind the quarter's robust figures.

The Reit bought over Cintech I, Cintech II and Cintech III & IV in March. All are in Science Park Drive.

It also completed the development projects 90 Alps Avenue and FoodAxis@Senoko in January and February, respectively.

Ascendas Reit's holdings include properties in business and science parks, industrial facilities, flatted factories and logistics and distribution centres.

Net asset value per unit was $1.87 on June 30, from $1.878 on March 31.

These figures include the value of the distributions to be made to unit-holders after those dates.

Ascendas Reit's units rose one cent to $2.18 before the results were released.

jonkwok@sph.com.sg

Acquisitions made since June last year and the completion of the Reit's own projects were behind the quarter's robust figures.

  
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
Email: marshe_inc@yahoo.com.sg
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

www.marshe.sg | www.marsheproperties.com.sg www.hudcsg.blogspot.com |
www.hausatserangoon.sg | www.8riversuites.com |

No comments:

Post a Comment