Key Points
- Distribution of 0.52 Singapore cents per Unit for the six-month financial period ended 31 December 2010.
- While property operations remained stable, revenue and income decreased year-on-year and quarter-on-quarter for the second quarter ended 31 December 2010 (“2Q FY2011”), due mainly to the sale of a total of 12 properties between September 2010 and November 2010.
- The average occupancy rate was 90.8% in 2Q FY2011, as compared to 91.0% in the second quarter ended 31 December 2009 (“2Q FY2010”) and 90.9% in the previous quarter ended 30 September 2010.
- YK Shintoku’s loan issue continues to be addressed. YK Shintoku divested seven properties in 2Q FY2011, at a weighted average discount of about 4% to valuation.
- The Books will close from 5pm on 21 Feb 2011 for the purpose of determining Unitholders’ entitlement to the distribution.
- Distribution is to be paid on 8 March 2011.
- NAV per unit of $0.36 as at 31 December 2010.
The DPU for the reporting quarter is 0.52 cents. It will be paid on 8 March 2011, with the Books closure on 21 Feb 2011.
The previous distribution had been 0.26 cents per Unit for the financial year ended 30 June 2010. The distribution was much lower previously as it was actually distributable cash accumulated over two months (May 2010 and June 2010).
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