Elite C-REIT's DPU declines 7.8% YoY to 3.79 pence in 9M22

Increased borrowings were among the reasons for the decrease.

With a 0.3% lower distributable income of £18.2 m, Elite Commercial REIT's (ECREIT) distributions per unit (DPU) dropped 7.8& YoY to 3.79 pence in 9M.

In a bourse filing, Elite Commercial REIT Management Pte. Ltd, the manager, said the decline was mainly due to the "election of the Manager’s fees in cash, increased borrowings for the full period and interest cost on borrowings as well as an enlarged equity base year-on-year."

The decline, however, was partially offset by "the full period of rental contribution from the REIT’s maiden acquisition and tax savings from a lower headline tax rate."

Apart from ECREIT's latest financial figures, the manager also reported that it has recently established a S$300m multicurrency debt issuance programme.

Under the programme, the REIT's trustee, Perpetual (Asia) Limited, may issue notes and/or perpetual securities.

CIMB Bank Berhad, Singapore Branch has been appointed as the sole arranger and dealer under the programme.

Follow the link for more news on

DPU

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia