Suntec Reit:in the Reit to raise gross proceeds of about S$200 million. Around 111.1 million new units will be issued at S$1.80 each, and net proceeds amount to about S$195.6 million, after deducting estimated fees and expenses. The bulk of the proceeds will go towards financing potential acquisitions of properties in Australia, the Reit manager said on Thursday before the market opened. Units in Suntec Reit closed at S$1.89 on Wednesday, up 1.6 per cent, or three Singapore cents.
for the first quarter ended March 31, down from 2.75 cents a year ago. Gross revenue increased 1.1 per cent to S$55.96 million, underpinned by stronger rental growth from the core multi-tenanted malls, while net property income rose 7 per cent to S$39.8 million. Income available for distribution to unitholders was up 4.9 per cent to S$24.87 million. Units in CRCT closed at S$1.51 on Wednesday, up one Singapore cent.distribution per stapled security for the first quarter ended March 31 fall 3.
, from 0.94 cent a year ago. This came on the back of an enlarged base, and income available for distribution declining 1.2 per cent to S$17.4 million. The DPS for the quarter will be paid out on June 12, with books closure set for May 6. Net property income was 9 per cent higher at S$25.1 million, boosted by additional contribution from Oasia Hotel Downtown, which Far East H-Reit completed the acquisition of in April last year. Gross revenue grew 8 per cent to S$27.
Source: News Formal (newsformal.com)
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