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Sasseur REIT’s DPU drops 2,6% YoY in 1H23
On a like-for-like currency basis, DPU would have been higher by 8.1% YoY.
Sasseur REIT recorded a lower distribution per unit (DPU) of $0.03322 in 1H23 due to lower Entrusted Management Agreement (EMA) rental income.
The REIT, however, clarified that its 1.4% YoY lower EMA rental income of $62.6m was only due to the “impact of foreign currency translation.”
“Against the Singapore Dollar, Renminbi has depreciated 8.7% for 1H 2023 as compared to the same period in 2022,” the REIT underscored.
In RMB terms, the REIT’s EMA Rental Income rose 8.4% YoY to RMB155.4m.
DPU likewise would have been higher by 8.1% YoY on a like-for-like basis.
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