Ascendas REIT NPI grows 12% to $177.9m in Q2

The acquisition of 38 UK properties spurred growth.

The net property income (NPI) of Ascendas REIT rose 12% YoY to $177.9m for Q2 FY2019, attributed to the full quarter contribution from 38 logistics properties in the UK acquired last year, according to a press release.

Gross revenue also increased by 5.3% YoY to $229.6m in tandem with the adoption of the Financial Reporting Standard (FRS) 1161 since April this year.

Total amount available for distribution also inched up 7.6% YoY to $123.8m and distribution per unit (DPU) grew to 3.97 cents (+2.3% YoY).

Last October 3, Ascendas REIT board of directors announced the purchase of a fourth suburban office in Australia for $104.4m (A$110.9m) currently being developed in Melbourne and is expected to be completed in Q2 2020.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

One in 900 job vacancies requires new hires to be vaccinated.
DairyFarm showed the most growth.
ARA LOGOS is currently on the 13th spot.
Meanwhile, the demand for petrochemical exports benefitted from this same crisis.
This is expected to speed up the electronic exchange of trade documents.
This is in support of achieving Absolute Zero Carbon by 2040.
Adults will only shop if goods are discounted by at least 48%, survey says.   About 54% of 1,001 Singaporean adults have plans to shop during the Black Friday sales but only if prices of goods are discounted by at least 48%, a survey from Finder.com showed.
This move is in line with its goal to accelerate recommerce growth in SEA.
The notes were released under its $3m Multicurrency Medium Term Note Programme.
Singtel showed the most growth.
Re-exports also saw an increase of 16.4% in the same month.
The marine company apologised to its workers at the dorm.
SG electricity demand peaked at 7,667MW in October 2021.
The two aim to accelerate the progression of AI.
It will focus on sustainable opportunities for companies in Singapore.