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AIMS APAC REIT sees 12.5% growth in 1Q22 DPU of 2.25 cents

Felicia Tan
Felicia Tan7/28/2021 07:59 AM GMT+08  • 2 min read
AIMS APAC REIT sees 12.5% growth in 1Q22 DPU of 2.25 cents
Unitholders can expect to receive their distributions on Sept 22.
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The manager of AIMS APAC REIT has reported distribution per unit (DPU) of 2.25 cents for the 1QFY2022 ended June, 12.5% higher than DPU of 2.00 cents in the same period a year ago.

Distributions to unitholders increased 12.6% y-o-y to $15.9 million. The amount comprises taxable income of $13.3 million from the REIT’s Singapore operations, representing 96.4% of the taxable income available for distribution. It also includes capital distribution of $2.6 million remitted from the REIT’s investment in Optus Centre in New South Wales in Australia and Boardriders Asia Pacific HQ in Queensland, Australia.

Gross revenue for the 1QFY2022 stood 16.8% higher y-o-y at $31.8 million mainly due to 7 Bulim Street and higher rental and recoveries from 20 Gul Way and 8 & 10 Pandan Crescent.

See also: RHB sees further upside to AIMS APAC REIT, deems it a laggard play on rising logistics demand

Net property income (NPI) increased by 23.9% y-o-y to $23.1 million.

Share of profits of joint venture stood 13.8% higher y-o-y at $3.8 million.

As at June 30, the REIT’s portfolio occupancy stood at 95.7% with a weighted average lease expiry (WALE) of 3.98 years.

Cash and cash equivalents as at end-June stood at $11.0 million.

“Our asset and tenant diversity have continued to serve us well during the quarter. We have seen high resiliency across our high-quality portfolio, which continues to benefit from the positive demand dynamics for logistics and warehouse space amidst the global pandemic. We have also attained high occupancy rates for our assets, putting us in a good position for lease renewal negotiations,” says Koh Wee Lih, CEO of the manager.

“We are encouraged to be named Top 10 best performing S-REITs in 1HFY2021 in terms of percentage of total returns. We remain firmly focused on pursuing strategic investments and business partnerships to generate attractive long-term total returns,” says George Wang, chairman of the manager.

“We will continue to evaluate total return investment opportunities in our core markets of Singapore and Australia which offer sustainable income yield and good capital growth potential. This may include established logistics and business park assets that are strategically located to benefit from future infrastructure investment and urban regeneration,” he adds.

Unitholders can expect to receive their distributions on Sept 22.

For more stories about where the money flows, click here for our Capital section

Units in AIMS APAC REIT closed flat at $1.55 on July 27.


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