REIT Financial News - 21 APR 2010: Quarterly Earnings Report for Cambridge

First quarter 2010 results for Cambridge:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• CIT distributes a DPU of 1.274 cents per unit for 1Q2010.
• Near full occupancy rate of 99.9% in 1Q2010, as compared with Singapore’s industrial average of 91.9%.
• Total distributable income attributable to Unitholders in 1Q2010 was S$11.1 million.
• Completion of the divestments of 32 strata units at 48 Toh Guan East Road with total gross sale proceeds of S$21.5 million, exceeding book value by S$1.6 million.
• The first Distribution Reinvestment Plan offered to Unitholders in relation to the 4Q2009 distribution received a take-up rate of approximately 10%.  
• As of 31 March 2010, CIT has a portfolio of 42 properties with about 639,800 sq m of lettable area and a carrying value of S$854.5 million.
  

Author's Note
The DPU of 1.274 cents will XD on 27 Apr 2010, and will be paid on 15 Jun 2010.

The DPU was 1.377 cents in the previous quarter.