Higher payout for Frasers Centrepoint Trust's unit holders
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Bedok Point, a shopping mall in Bedok Town Centre, was added to Frasers Centrepoint Trust's portfolio late last year. -- MY PAPER FILE PHOTO
Improved revenue from the Causeway Point mall and contributions from Bedok Point have delivered a higher payout for unit holders of Frasers Centrepoint Trust (FCT).
Fourth-quarter distributable income rose 15.4 per cent to $21.1 million, up from the $18.3 million a year earlier. Causeway Point and Bedok Point, which was added late last year, are part of the five Singapore retail assets in the trust's portfolio.
Revenue for the three months to Sept 30 was $39 million, up 14.3 per cent from the same period last year.
Net property income was 13.7 per cent higher at $28.7 million.
