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COMMERCIAL PROPERTY | Staff Reporter, Singapore

OUECT’s 4Q15 income leaps 106.7% to $29.7m

Thanks to improved operations at OUE Bayfront, Lippo Plaza.

OUE Commercial REIT (OUECT) ended 4Q15 with a net property income of around $29.7m, reflecting a whopping 106.7% YoY leap from 4Q14’s $14.4m. For FY15, NPI jumped a 40.5% YoY to $75.6m.

According to the company’s media release, the growth is thanks to improved operating performance by OUE Bayfront and Lippo Plaza, and a maiden contribution from One Raffles Place from October 2015.

The company’s 4Q15 revenue also inched up 4.2% than the Circular Forecast to $40.3m. Its DPU and distributable income for the quarter stood at 1.36 S cents and $17.6m, respectively reflecting a 20.4% and 21.1%

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