Frasers Centrepoint Trust (FCT), which owns five suburban malls in Singapore, has achieved a 10 per cent rise in fourth quarter distribution per unit (DPU) to 2.98 cents.

This brings the total payout for the year ended Sept 30 to a record 10.93 cents - the seventh consecutive year of growth since its listing.

Gross revenue for the full year grew by 7.3 per cent to $158 million on higher contributions from Causeway Point and Northpoint on the back of better rental rates achieved for new and renewed leases.

Net property income rose by 6.9 per cent to $111.6 million.

Total distribution to unitholders amounted to $90.1 million, an increase of 9.5 per cent.

Total assets as at Sept 30 stood at $2.13 billion, up 10.9 per cent from $1.92 billion a year ago.

This stemmed from the recognition of $195.7 million from net surplus on revaluation of FCT's properties.

All five properties grew in valuation, which boosted net asset value per unit by 15.7 per cent to $1.77 from $1.53 a year ago.