Company Briefs: Ascendas Reit

Ascendas Reit

Ascendas Reit yesterday reported a 6.1 per cent rise in distribution per unit (DPU) to 4.148 Singapore cents for the fourth quarter ended March 30, from 3.910 cents last year.

This was on the back of contributions from 38 newly acquired properties in Britain, four new acquisitions in Australia and two redeveloped properties in Singapore. The contributions were partially offset by non-renewals and downsizing in some of the Reit's Singapore properties.

Fourth-quarter gross revenue increased 4.3 per cent to $225.06 million, while net property income (NPI) grew 3.5 per cent to $163.43 million. The total amount available for distribution was up 12.7 per cent to $129.02 million.

For the full year, DPU rose 0.3 per cent to 16.035 cents, after taking into account an enlarged number of units in issue.

Gross revenue improved 2.8 per cent to $886.17 million for the 2018-2019 financial year. NPI was up 3.2 per cent to $649.58 million, and the total amount available for distribution increased 3.8 per cent to $485.68 million.

During the year, Ascendas Reit expanded its overseas portfolio with a total of $948 million in acquisitions. As at March 31, properties in Australia and Britain made up 21 per cent of its portfolio value of $11.1 billion, compared with 15 per cent of $10.1 billion as at March 31 last year.

It also completed about $97.9 million worth of asset enhancement and redevelopment projects across eight properties in Singapore in the period under review.

One Championship

Singapore-based martial arts organisation One Championship has launched One Studios, its television and film production division.

It will produce television programmes and feature films starring the organisation's athletes, One Championship said yesterday.

The division will distribute content globally via digital partners such as Netflix, YouTube, Facebook, Amazon and more than 140 global TV broadcast partners.

Mr Chatri Sityodtong, chairman and chief executive of One Championship, said: "There are so many amazing and inspiring stories to tell. We will make world-class blockbuster movies and TV shows for the world.

"We have been working on our first movie project over the last several months, and I will make a huge announcement soon," he added.

A version of this article appeared in the print edition of The Straits Times on April 30, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe