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Frasers Commercial Trust posts 4.4% lower 2Q DPU of 2.4 cents

Michelle Zhu
Michelle Zhu4/20/2018 08:03 AM GMT+08  • 2 min read
Frasers Commercial Trust posts 4.4% lower 2Q DPU of 2.4 cents
SINGAPORE (Apr 20): The manager of Frasers Commercial Trust (FCOT) has declared a 2Q18 distribution per unit (DPU) of 2.40 cents, down 4.4% from its 2Q17 DPU of 2.51 cents a year ago on lower revenue and income from properties.
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SINGAPORE (Apr 20): The manager of Frasers Commercial Trust (FCOT) has declared a 2Q18 distribution per unit (DPU) of 2.40 cents, down 4.4% from its 2Q17 DPU of 2.51 cents a year ago on lower revenue and income from properties.

Revenue for the quarter fell 18% to $33 million from $40.2 million, mainly due to occupancy rates for the properties in Singapore, Central Park, 357 Collins Street, the absence of one-off payment in relation to a termination of lease in Central Park and the effects of the average weaker Australian dollar.

As such, net property income (NPI) declined 25.3% on year to $22.4 million for the abovementioned reasons as well as higher repair and maintenance expenses for Caroline Chisholm Centre.

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