OUE Commercial REIT (OUE C-REIT) has announced a distribution per unit (DPU) of 1.36 cents in the fourth quarter ended Dec 31, 2015, as compared to the circular forecast of 1.13 cents.
This includes a one-off distribution of capital return of $1.3 million in relation to certain expenses, which are non-tax deductible from a tax perspective.
Excluding this one-off distribution, DPU would be at 1.26 cents, says OUE C-REIT.
Meanwhile, net property income came in at $29.7 million as compared to the circular forecast of $27.8 million.
NPI came higher on better operating performance across the portfolio, augmented by lower utilities costs incurred by OUE Bayfront and One Raffles Place.
Looking ahead, OUE C-REIT reckons the completion of new office developments from 2H2016 will weigh on vacancy and rents amid expectation of current low vacancy to continue in the near term.
OUE C-REIT expects the rental outlook in Shanghai to be "subdued" in view of further new supply coming on-stream this year.
OUE C-REIT ended higher yesterday at 61.5 cents, up 0.5 cent or 0.8%.
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This includes a one-off distribution of capital return of $1.3 million in relation to certain expenses, which are non-tax deductible from a tax perspective.
Excluding this one-off distribution, DPU would be at 1.26 cents, says OUE C-REIT.
Meanwhile, net property income came in at $29.7 million as compared to the circular forecast of $27.8 million.
NPI came higher on better operating performance across the portfolio, augmented by lower utilities costs incurred by OUE Bayfront and One Raffles Place.
Looking ahead, OUE C-REIT reckons the completion of new office developments from 2H2016 will weigh on vacancy and rents amid expectation of current low vacancy to continue in the near term.
OUE C-REIT expects the rental outlook in Shanghai to be "subdued" in view of further new supply coming on-stream this year.
OUE C-REIT ended higher yesterday at 61.5 cents, up 0.5 cent or 0.8%.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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