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First REIT's net property income drops 6.0% YoY in 9M 2024
The REIT attributed the decline to the yen and rupiah's depreciation against SGD.
First REIT's net property and other income fell 6.0% YoY to $74.4m in 9M 2024.
The REIT linked the decline to the depreciation of the Japanese Yen and Indonesian Rupiah against the Singapore Dollar.
Apart from net property and other income, the REIT also recorded declines in its rental and other income, which fell 5.3% YoY to $77m.
With lower income, the REIT's distributable amount dropped by 3.4% YoY to $37m.
Its distribution per unit (DPU) likewise fell, declining by 4.3% YoY to $0.0178.
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