Mostly because of lower occupancy rates.
Frasers Commercial Trust reports that its net property income declined by 15% YoY in 1Q2018, falling from $29.2m to $24.9m.
NPI decreased because of lower occupancy rates, and a weaker exchange of Australian dollars, particularly in China Square Central, Alexandra Technopark, Central Park, Caroline Chisholm Centre, and 357 Collins Street.
Further, Frasers Commercial Trust’s distribution per unit (DPU) decreased by 4% YoY in 1Q2018, changing from $2.51 to $2.40 cents.
DPU fell down because of an increase in the number of issued units, while distributable income decreased.
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