Frasers Commercial Trust posts 33.4% rise in Q1 distributable income
Frasers Commercial Trust has chalked up a 33.4 per cent rise in first quarter distributable income to $13.7 million.
The trust delivered a 29.7 per cent growth in distribution per unit (DPU) to 2.05 cents for the three months ended Dec 31.
Mr Low Chee Wah, chief executive officer of Frasers Centrepoint Asset Management (Commercial), which manages the trust, said the improved income was due to better performances of the Singapore properties, lower interest costs and savings in distribution for its Series A Convertible Perpetual Preferred Units (CPPU).
During the quarter, 11.1 million CPPUs were converted into ordinary units.