First REIT DPU up 14.3% in 4Q13 as revenues surged

Gross revenue up an impressive 44.5%.

First REIT (FREIT) reported a 48.2% YoY increase in gross revenue to S$22.8m and a 14.5% growth in DPU to 1.97 S cents in 4Q13, resulting in an ffective increase of 44.5% and 14.3% for gross revenue and DPU, respetively, after taking out exceptional gains distribution of 0.68 S cents in FY12.

OCBC Investment Research said this closely matched its revenue and DPU forecast of S$83.2m and 7.54 S cents, respectively.

"This growth was driven by contribution from new acquisitions (two hospitals acquired each in Nov 2012 and May 2013) and organic growth," said OCBC.

"Geographically, Indonesia, Singapore, and South Korea contributed 93.4%, 4.2% and 2.4% of its total revenue in FY13, respectively," it added.

Follow the link for more news on

First REIT

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