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EC World REIT declares 4Q DPU of 1.508 cents, 2.8% higher than a year ago

Michelle Zhu
Michelle Zhu2/28/2018 09:10 PM GMT+08  • 2 min read
EC World REIT declares 4Q DPU of 1.508 cents, 2.8% higher than a year ago
SINGAPORE (Feb 28): The manager of EC World REIT has declared a 4Q distribution per unit (DPU) of 1.508 cents, which is 2.8% higher from its 4Q16 DPU of 1.463 cents on lower forex losses.
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SINGAPORE (Feb 28): The manager of EC World REIT has declared a 4Q distribution per unit (DPU) of 1.508 cents, which is 2.8% higher from its 4Q16 DPU of 1.463 cents on lower forex losses.

The higher DPU comes despite a 16.4% decline in gross revenue, which fell to $20.7 million from $24.7 million previously after factoring in adjustments for effective rent which have no impact on DPU.

Net property income (NPI) fell 17.6% to $17.9 million from $14.1 million in 4Q16 for similar reasons. The lower NPI was also due to a $1.1 million provision for impairment for other receivables at Fu Zhuo Industrial, which has no impact on EC World REIT’s DPU.

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