Frasers Commercial Trust NPI down 9% to $26.74m in Q4

Repair and maintenance costs for Caroline Chisholm Centre dragged NPI down.

Frasers Commercial Trust's (FCT) net property income (NPI) fell 9% YoY to $26.74m in Q4.

According to its financial statement, distribution per unit (DPU) dipped 2% YoY to 2.41 cents. Distributable income remained at $19.4m.

Higher expenses for the repair and maintenance of its Caroline Chisholm Centre dragged FCT's NPI down.

Revenue fell due to lower occupancy rates for Alexandra Technopark, China Square Central and Central Park, though offset by the effects of a stronger Australian dollar, OCBC Investment Research said.

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