CRCT Q3 2010 Quarterly Earnings Report

Q3 2010 results for CRCT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for the quarter ended 30 September 2010 is 2.08 Singapore cents. 
• CRCT has achieved net property income (NPI) of RMB94.2 million for 3Q 2010, up 9.1% against the same period last year. 
• Income available for distribution is S$13.0 million.
• As at 30 September 2010, CRCT’s total borrowing was S$413.7 million, with gearing at 33.7% and healthy interest cover of 6.2 times. 
• CRCT has secured the refinancing of the S$200.5 million loans maturing in November 2010. The debt maturity will be extended to 2013 and 2014. With this completed, there will be no major refinancing needs in 2011.

Author's Note
The DPU for the reporting quarter is 2.08 cents. There will not be any distribution this quarter as the reit has a semi-annual distribution policy. DPU was 2.07 cents for the previous quarter.