REIT Financial News - 12 MAY 2010: Quarterly Earnings Report for Saizen Reit

First quarter 2010 results for Saizen Reit:

• Press Release
• Financial Statements 
• Presentation Slides 

Key Points 

• Property operations in the third quarter ended 31 March 2010, which has been the busy leasing season, remained stable with overall occupancy rate remaining healthy at 93.4% at the end of March 2010.
• Financial position continued to strengthen with repayment of loans and establishment of new banking relationships.
• Repaid all but one commercial mortgage-backed securities (CMBS) loan.
• Have turned the corner and have begun cash accumulation in May
  2010 for distribution for the financial year ending 30 June 2010. Unitholders can expect to receive it in September 2010.

Author's Note
As in previous quarters, no DPU has been declared this quarter. DPU is expected to resume from the next quarter. The last time the Reit has distributed dividend was in Sep 2008 for the period from 09/11/2007 to 30/06/2008. The DPU for the period then was S$0.0467.


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