EC World REIT net property income down 7.8% in Q3

Revenue for the quarter also decreased by 7.1%.

EC World REIT posted a net property income (NPI) of $22.8m for the third quarter of FY2024, marking a 7.8% year-on-year (YoY) decline.

Revenue for the quarter also dipped, falling 7.1% YoY to $25.1m.

The distribution per unit (DPU) was announced at 0.401 cents, a decrease of 56.2% from the same period last year.

According to EC World Asset Management Pte. Ltd., the manager of EC World REIT, the lower performance stemmed primarily from multiple factors, including the discontinuation of China Tobacco leases related to Hengde Logistics Phase 1, reduced rental income from Chongxian Port Logistics, and the expiration of the Master Lease Agreement for Fuzhou E-Commerce in August 2024.

Additionally, a weaker RMB against the SGD contributed to the decline, though higher late fees and organic rental escalations offered some offsetting benefits.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia