SINGAPORE - Recently acquired Indonesian hospital Siloam Sriwijaya and greater contributions from Indonesia and Singapore properties helped health-care real estate investment trust First Reit boost second-quarter results.
The Reit, which owns properties in Indonesia, Singapore and South Korea, posted on Monday a distribution per unit (DPU) of 2.07 cents for the three months to June 30.
This was 3.5 per cent higher than a year ago, and a record DPU for the Reit, said its manager Bowsprit Capital Corporation.
First Reit's properties in Singapore include the Pacific Healthcare Nursing Home @ Bukit Merah and nursing home The Lentor Residence.
Distributable income expanded 7.2 per cent to S$15.4 million for the quarter.
Gross revenue rose 8.5 per cent to S$25 million for the quarter, while net property income rose 8.3 per cent to S$24.6 million from the previous year.
