Frasers Commercial Trust unitholders to get higher payout of 1.58 cents a unit for Q1

Frasers Commercial Trust (FCOT) has achieved a 6.9 per cent rise in distributable income to $10.3 million for the first quarter.

Gross revenue for the three months to Dec 31 declined by 3.2 per cent to $29.7 million.

The higher revenue contribution from the additional 50 per cent interest acquired in Caroline Chisholm Centre as well as higher revenue generated from China Square Central following the expiry of the master lease was offset by the lower revenue contributions due to the sale of KeyPoint and the Japanese properties.

Consequently, net property income fell by 6.9 per cent to $22.9 million.