SINGAPORE (Oct 19): The manager of Frasers Commercial Trust (FCOT) declared a DPU of 2.40 cents for 4Q18 ended Sept, 0.4% lower compared to 4Q17.
This brought FY18 DPU to 9.60 cents, 2.2% lower compared with FY17 due to the higher unit base in FY18.
Portfolio gross revenue for 4Q18 was $32.5 million, 15.2% lower compared with 4Q17. Net property income of $21.6 million for 4Q18 was 19.2% lower than 4Q17, mainly due to lower utilities expense for Alexandra Technopark and lower repair and maintenance expense for Caroline Chisholm Centre. Distribution to unitholders came in at $21.4 million, 10.4% higher.