Keppel REIT NPI up 0.3% to $31.67m in Q3

It received higher income from three properties.

Keppel REIT's net property income (NPI) barely inched up 0.3% YoY from $31.58m to $31.67m in Q3.

According to its financial statement, distributable income fell 10.4% YoY from $52.45m to $47m. Distribution per unit (DPU) also slipped 12.5% YoY from 1.60 cents to 1.40 cents in Q3.

Properties' rental support fell 22.4% from $4.16m to $3.23m and borrowing costs went up. The REIT's share of results of associates also fell 17.1% from $24.66m to $20.44m.

These declines were offset by higher income from Bugis Junction Towers, 275 George Street, and 8 Exhibition Street.

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