Company Briefs: Parkway Life Real Estate Investment Trust

Parkway Life Real Estate Investment Trust

Parkway Trust Management, the manager of Parkway Life Real Estate Investment Trust (PLife Reit), yesterday announced a distribution per unit of 2.99 cents for the quarter to March 31.

This represents a 7 per cent drop over the 3.21 cents from the same period a year earlier, owing to the absence of a one-off divestment gain distribution recorded a year ago.

The healthcare Reit - one of the largest in Asia - posted a total distributable income of $18.1 million, down from $19.5 million previously.

Gross revenue increased 8.6 per cent to $26.9 million, said the manager in a filing to the Singapore Exchange. Net property income grew 8.5 per cent to $25.1 million.

Quarterly earnings per unit was 2.85 cents, up from 2.71 cents previously, while net asset value per unit was $1.68 as at March 31, slightly down from $1.69 as at Dec 31 last year.

Soilbuild Construction Group

Soilbuild Construction Group, the construction arm of Soilbuild Group, posted a first-quarter net profit of $4 million, a fall of 10.5 per cent.

It was affected by other losses from foreign exchange differences and an increase in other operating expenses.

Revenue soared 45.6 per cent to $102.5 million for the three months to March 31.

Quarterly earnings per share was 0.6 cent, down from 0.67 cent a year earlier, while net asset value was 14.27 cents as at March 31, up from 13.64 cents as at Dec 31.

Housing & Development Board

The Housing Board (HDB) issued $675 million, five-year fixed rate notes yesterday, under its $32 billion multicurrency medium term note programme.

The notes have a coupon of 1.75 per cent per annum payable semi-annually in arrear, and mature on April 26, 2021. Rating agency Moody's Investors Service has rated the notes Aaa.

They come in denominations of $250,000 and were offered by way of placement to certain investors.

HDB said that under the programme, it may issue bonds, or notes, from time to time, "to finance its development programmes and working capital requirements, as well as to refinance existing borrowings".

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A version of this article appeared in the print edition of The Straits Times on April 27, 2016, with the headline Company Briefs: Parkway Life Real Estate Investment Trust. Subscribe