REIT Financial News - Q2 2010 Quarterly Earnings Report for Cambridge

Second quarter 2010 results for Cambridge:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• Almost full occupancy rate of 99.97% in 2Q2010, as compared with Singapore’s industrial average of 92.3%.
• Total distributable income attributable to Unitholders in 2Q2010 was S$10.8 million, which translated to a distribution per unit (“DPU”) of 1.238 cents.
• Completion of the divestments of 27 Pandan Crescent, 37 Tampines Street 92 and 17 strata units at 48 Toh Guan Road East with total gross sale proceeds of S$31.3 million, exceeding book value by S$1.1 million.
• Distribution Reinvestment Plan (“DRP”) was implemented to strengthen the balance sheet. The 1Q2010 DRP received a take-up rate of approximately 14%, an increase from 10% in 4Q2009.
• The  Transfer  Books  and  Register  of  Unitholders will be closed at 5.00 pm on 23 July 2010 for the purpose of determining unitholders’ entitlements to distribution.  
• The distribution that will be paid on 8 September 2010.

Author's Note
The DPU of 1.238 cents will be paid on 8 Sep 2010.

The DPU was 1.274 cents in the previous quarter.