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Sabana REIT’s 3Q DPU fall on lower net property income

Benjamin Cher
Benjamin Cher10/18/2016 07:48 AM GMT+08  • 2 min read
Sabana REIT’s 3Q DPU fall on lower net property income
SINGAPORE (Oct 18): Sabana REIT’s 3Q16 results saw DPU falling 32.2% year-on-year to $1.20 from $1.77 a year ago.
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SINGAPORE (Oct 18): Sabana REIT’s 3Q16 results saw DPU falling 32.2% year-on-year to $1.20 from $1.77 a year ago.

The fall comes on the back of falling revenue, with a 9.7% drop from $25.4 million in 3Q15 to $23 million in 3Q16. Net Property Income (NPI) fell 24% on year.

NPI took a hit when 34 Penjuru Lane, 23 Serangoon North Avenue 5 and 15 Jalan Kilang Barat were converted into multi-tenanted lease arrangements. This incurred higher property expenses from service, repairs, maintenance, property tax, land rent, utilities and marketing expenses.

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