The manager of Sasseur REIT announced that its 4QFY2020 distribution per unit (DPU) has increased by 18.8% to 1.935 cents  from 1.629 cents a year ago, with income available for distribution to unitholders coming in 19.7% higher at $23.3 million from 19.5 million in 4QFY2019.

This brings FY2020 DPU to 6.545 cents, 0.2% higher than 6.533 cents last year. This is attributable to the rapid rebound of the Chinese economy in the second half of 2020, following China’s stringent control of Covid-19, as well as the strong operational capabilities of and proactive asset management actions taken by the entrusted manager, lower tax expenses and a strengthening RMB.

During the quarter ended December, total Entrusted Management Agreement (EMA) rental income came in at RMB 159.1 million, 2.1% lower y-o-y. This was mainly due to a 10.0% y-o-y drop in the variable component to RMB 56.7 million, while this was partially offset by a 3.0% y-o-y increase in the fixed component to RMB 102.4 million.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook