Key Points
- DPU of 1.95 cents for the reporting quarter from 1 Oct to 31 Dec 2010.
- Gross revenue for the quarter grew 19% y-on-y to $27.6 million, aided by the accretive acquisitions of Northpoint 2 and YewTee Point. Net property income for the quarter similarly rose 17% y-on-y to $18.6 million, even though Causeway Point income was affected by planned refurbishment works.
- Portfolio occupancy level stands at 92% as at 31 December 2010, as Causeway Point occupancy dipped to 86%. The other malls in the portfolio continue to maintain close to full occupancy.
- In November 2010, FCT signed an agreement with DBS Bank, OCBC Bank and Standard Chartered Bank for a $264 million secured five-year loan facility. FCT intends to use the facility to pay down a $260 million debt expiring in July 2011.
- The Books will close from 5pm on 1 Feb 2011 for the purpose of determining Unitholders’ entitlement to the distribution.
- The distribution will be paid on 28 February 2011.
- NAV per unit of $1.28 as at 31 December 2010.
- Gearing of 30.6% as at 31 December 2010.
The DPU for the reporting quarter is 1.95 cents and will be paid on 28 February 2011. Books closure is on 1 Feb 2011.
The DPU was 2.16 cents in the previous quarter.
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