Elite C-REIT's DPU declines 7.8% YoY to 3.79 pence in 9M22

Increased borrowings were among the reasons for the decrease.

With a 0.3% lower distributable income of £18.2 m, Elite Commercial REIT's (ECREIT) distributions per unit (DPU) dropped 7.8& YoY to 3.79 pence in 9M.

In a bourse filing, Elite Commercial REIT Management Pte. Ltd, the manager, said the decline was mainly due to the "election of the Manager’s fees in cash, increased borrowings for the full period and interest cost on borrowings as well as an enlarged equity base year-on-year."

The decline, however, was partially offset by "the full period of rental contribution from the REIT’s maiden acquisition and tax savings from a lower headline tax rate."

Apart from ECREIT's latest financial figures, the manager also reported that it has recently established a S$300m multicurrency debt issuance programme.

Under the programme, the REIT's trustee, Perpetual (Asia) Limited, may issue notes and/or perpetual securities.

CIMB Bank Berhad, Singapore Branch has been appointed as the sole arranger and dealer under the programme.

Follow the link for more news on

DPU

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit