“We are pleased to deliver 2Q FY2017 DPU of 1.466 cents. Despite a soft industrial market, the leasing team has secured more than 110K sq ft of new leases and completed more than 200K sq ft of renewals and forward renewals in this quarter, raising portfolio occupancy to 92.6%. With 7.6% of the portfolio NLA expiring in the second half of 2017, the key asset management focus remains to retain existing tenants and improve occupancy in the multi-tenanted buildings and 72 Loyang Way. With the full utilisation of the security deposit received for 72 Loyang Way, the distributable income will be negatively impacted until the Manager finds a suitable replacement anchor tenant.”
Mr Roy Teo, CEO
- 2Q & 1H FY2017 DPU was 1.466 cents and 2.955 cents respectively
- Approximately 570K sq ft of renewals, forward renewals and new leases signed as at YTD 1H FY2017
- Portfolio occupancy stands at 92.6%
- S$200 million unsecured facility put in place for greater financial flexibility
