Company Briefs: Keppel DC Reit

Keppel DC Reit

Keppel DC Reit has posted a fourth-quarter distribution per unit of 1.85 Singapore cents, up 5.7 per cent from 1.75 Singapore cents in the same period a year earlier.

Gross revenue in the three months ended Dec 31 jumped 30.5 per cent to $48 million.

Gross rental income was $44.67 million, up 27.9 per cent from the same period a year earlier, lifted by the acquisitions of Keppel DC Singapore 5 and maincubes DC. These were partially offset by lower rental income from Keppel DC Singapore 1 as well as lower overseas contributions arising from less favourable exchange rates. Portfolio occupancy as at Dec 31 was 93.1 per cent, with less than 5 per cent of the leases due for expiry per year until end-2020. Portfolio weighted average lease expiry was 8.3 years.

Net asset value per unit (excluding the distributable income) was $1.03 at the end of last year, up from $0.93 at the end of 2017.

Sanli Environmental

Water and waste management engineering group Sanli Environmental has clinched $51.5 million worth of contracts from national water agency PUB, bringing its order book to $185.9 million, it announced yesterday.

The orders comprise a $51 million engineering, procurement and construction contract relating to the replacement of mechanical and electrical equipment at Kranji Water Reclamation Plant, and $500,000 for maintenance services at the same plant.

Oxley Holdings

A subsidiary of property developer Oxley Holdings has entered into an agreement with Ireland's central bank to sell off two blocks of buildings in Dublin for €204 million (S$315 million), subject to finalisation of the properties' net floor area.

The deal involves the sale of No. 4 and No. 5 Dublin Landings for €97 million and 72-80 North Wall Quay for €107 million. Oxley Holdings' wholly owned subsidiary, Oxley Docklands Quay Two, will be entitled to 79.5 per cent of the sale price, Oxley said on Monday in a Singapore Exchange filing.

A deposit of €20.4 million has been paid, of which €5 million will be released to Oxley Docklands upon fulfilment of various conditions, the company said. The balance will be paid upon completion of the sale after the properties have been constructed. This is targeted for October this year.

A version of this article appeared in the print edition of The Straits Times on January 23, 2019, with the headline 'Company Briefs'. Subscribe