Q3 2010 results for Plife:
Key Points
- DPU for the reporting quarter is 2.25 cents.
- For 3Q 2010, PLife REIT registered gross revenue of S$21.2 million, a 28.3% increase from S$16.5 million in the previous corresponding period (“3Q 2009”).
- Higher revenue for 3Q 2010 was primarily due to additional revenue contribution amounting to S$1.8 million from the Japanese properties acquired in the fourth quarter last year.
- Net property income was S$19.4 million for 3Q 2010 and S$53.9 million for YTD 2010, up 26.5% and 18.5% from 3Q 2009 and YTD 2009 respectively.
- Successfully completed the pre-emptive refinancing of its existing JPY 13.66 billion (approximately S$215.0 million) loan facilities, which constituted about 46% of the Group’s total loan portfolio.
- Effectively lengthened PLife REIT’s weighted average debt maturity period to 4.20 years with no near term refinancing requirements until FY2013.
- As at 30 September 2010, the gearing level of the Group stood at a healthy 35%.
- The committed occupancy for the overall portfolio of 100% as at 30 September 2010.
- Adjusted NAV per unit (excluding the distributable income) of S$1.36 as at 30 September 2010.
- The Books will close from 5pm on 16 Nov 2010 for the purpose of determining Unitholders’ entitlement to the distribution.
- The distribution will be paid on 13 Dec 2010.
Author's Note
The DPU of 2.25 cents will be paid on 13 Dec 2010. Books closure is on 16 Nov 2010.
DPU was 2.090 cents in the previous quarter.