Frasers Commercial Trust reports flat DPU for Q3

Better occupancies and improved margins for Frasers Commercial Trust's Singapore properties was offset by the weaker Australian dollar hitting income from its Australian properties, as the trust today announced a third quarter net property income of $22.9 million, 1 per cent lower than a year back.

But distribution to unitholders rose 3 per cent over the period to $14.8 million.

This translated to a distribution per unit (DPU) of 2.19 cents, similar to a year back, which will be paid out on August 29.

Gross revenue was $29.6 million, a 1 per cent drop.

As at June 30, the trust had an average portfolio occupancy rate of 98 per cent, with occupancy rates in Singapore at 98.4 per cent and Australia at 97.3 per cent.

The trust has 100 per cent direct interests in China Square Central, 55 Market Street, and Alexandra Technopark; 50 per cent indirect interest in Central Park in Perth, and 100 per cent indirect interest in Caroline Chisholm Centre in Canberra.