Key Points
- Distribution per Unit (“DPU”) of 1.93 cents, higher than IPO Forecast (“Forecast”) by 9.7% for the Fourth Quarter Financial Year 2010 from 1 January 2011 to 31 March 2011 (“4Q FY2010”).
- DPU for the period from Listing Date of 21 October 2010 to 31 March 2011 exceeds Forecast by 11.3%.
- Net Asset Value (“NAV”) per unit improved to S$0.95 from S$0.86.
- Higher average occupancy rate of 93.2% and higher average passing rental rate of S$1.49 per square foot per month for 4Q FY2010.
- Strong upward rental reversions
- NAV Per Unit of S$0.85 as at 31 March 2011.
- Aggregate Leverage Ratio of 36.1% as at 31 March 2011.
- Unitholders can expect to receive their quarterly DPU for the period 1 January to 31 March 2011 on 31 May 2011. The closure of MIT’s transfer books and register of unitholders is 5.00pm on Thursday, 5 May 2011.
The DPU of 1.93 cents will be paid on 31 May 2011. Book closure is on 5 May 2011.
The DPU was 1.52 cents from the period from Listing Date of 21 October 2010 to 31 December 2010. This is the first quarter that a full quarter of DPU will be distributed since the Listing Date.
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