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Parkway Life Reit DPU up 2.8% in YTD 2023

The company's gross revenue recorded 24.6% growth due to higher hospital rents.

With a strong balance sheet, Parkway Life Reit's DPU grew 2.8% YoY to 10.99 cents in YTD 2023.

In a financial statement, the group also reported higher gross revenue of $110.9m with higher rental from Singapore hospitals.

They also posted no long-term debt refinancing until March 2024, with a low all-in debt cost of 1.32%.

It also mitigated financial risks due to Japan's acquisition which is fully funded by JPY loans. Its income FX risk was also defrayed with JPY net income hedges, which are applicable until the first quarter of 2027.

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