AIMS APAC Reit (AA Reit) posted a distribution per unit (DPU) of 2.5 Singapore cents for its first quarter ended June 30, unchanged from the year-ago period, the real estate investment trust’s manager said on Thursday morning. Read more at The Business Times.
Property operating expenses stood at S$7.6 million, down 19.4 per cent from a year ago, mainly due to land rent that was excluded due to the adoption of FRS, effective April 1.For Q1 2020, the Reit manager is distributing 96.5 per cent of the Singapore taxable income available for distribution to the unitholders. These will be paid out on Sept 19, after the Aug 5 books closure date.
Total borrowings as at June 30 was S$499.3 million, up S$1.8 million from March 31, mainly due to a net drawdown of S$5 million primarily used to pay retention sums and development costs of recent development projects and other enhancement initiatives. This was largely offset by the decrease in Australian dollar-denominated borrowings as a result of the strengthening of the Singapore dollar against the Australian dollar.
As at July 25, the group had a portfolio of 27 industrial properties, comprising 25 in Singapore, one industrial property in Gold Coast, Queensland, Australia, and one business park in Macquarie Park, New South Wales, Australia.
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