18 Apr '11, 3pm

A-REIT posts full-year distribution per unit of 13.23 cents

SINGAPORE: Ascendas Real Estate Investment Trust (A-REIT) has posted a full-year distribution per unit of 13.23 cents, which is a one per cent increase from a year ago. A-REIT said the total amount available for distribution was up by 5.6 per cent to S$248 million. Gross revenue rose 8.2 per cent to S$447.6 million, contributed mainly by new investments and increase in occupancy rates. However, the increase was partly offset by higher operating expenses arising from the increase in utilities cost as well as cessation of land rent and property tax rebates granted by the Singapore government in 2009. Net property income for the full year gained 6.1 per cent to S$339.4 million. The trust said it has a good mix of about 43 per cent in long term leases and the remaining 57 per cent in short term leases. At the moment, A-REIT said it has a relatively high 86 per cent of portfoli...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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