Frasers Commercial Trust Q2 DPU up 16% on higher rents and occupancy rates

SINGAPORE - Frasers Commercial Trust's second quarter distribution per unit rose 16.1 per cent to 2.38 cents, on the back of 17.4 per cent growth in distributable income, which came in at $16.2 million.

Gross revenue for the three months ended Mar 31 rose 21.7 per cent to $34.8 million, while net property income grew 13.9 per cent to $24.7 million compared with the same period last year.

This was because the trust received higher rents form underlying tenants at Alexandra Technopark, compared with the fixed master lease rent which it used to receive under the master lease.

Occupancy rates and rentals at China Square Central and 55 Market Street also went up, contributing to the trust's strong performance.