CACHE Logistics Trust posted a distribution per unit (DPU) of 1.321 Singapore cents for its second quarter ended June 30, down 6.9 per cent from 1.419 cents from the year-ago period, the real estate investment trust’s (Reit) manager said on Thursday morning. Read more at The Business Times.
CACHE Logistics Trust posted a distribution per unit of 1.321 Singapore cents for its second quarter ended June 30, down 6.9 per cent from 1.419 cents from the year-ago period, the real estate investment trust’s manager said on Thursday morning.
The property expenses were partially offset by the exclusion of S$1.5 million in land rent due to the adoption of Singapore Financial Reporting Standard 116 Leases effective Jan 1.sentifi.
This was likewise due to lower performance from the two Singapore properties after converting their master leases to a multi-tenancy lease structure, as well as the absence of contribution from the two divestments in 2018. DPU for the half year stood at 2.834 Singapore cents, down 3.1 per cent from 2.926 cents in the year-ago period.
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