First REIT’s DPU slips 6.1% YoY to $0.0248 in FY23

The REIT attributed the decline to higher financing costs, amongst others.

First REIT declared a 6.1% YoY lower distribution per unit of $0.0248 in FY23.

In a bourse filing, the REIT attributed the decline in its DPU to higher financing costs, a depreciation of the Indonesia Rupiah and the Japanese Yen against the Singapore dollar, and a one-off increase in unit base.

The REIT also recorded declines in its distributable amount and net property.

In FY23, the distributable amount fell 1.9% YoY to $51.4m, whilst net property declined 3.0% YoY to $105.3m.

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