{"id":442,"date":"2017-07-13T20:56:31","date_gmt":"2017-07-13T12:56:31","guid":{"rendered":"http:\/\/reits.yieldsavvy.com\/singapore\/?p=442"},"modified":"2017-07-16T15:01:34","modified_gmt":"2017-07-16T07:01:34","slug":"esr-reit-delivers-steady-performance-2q2017","status":"publish","type":"post","link":"https:\/\/reits.yieldsavvy.com\/singapore\/2017\/07\/esr-reit-delivers-steady-performance-2q2017\/","title":{"rendered":"ESR-REIT Delivers Steady Performance for 2Q2017"},"content":{"rendered":"<blockquote><p>&#8220;Although challenging business conditions continue to bring about a slowdown in the industrial property market, we are establishing the foundation for ESR-REIT\u2019s next stage of development by employing a proactive asset and lease management strategy and exercising a prudent capital and risk management approach to our business. In doing so, we remain committed towards unlocking value for our Unitholders and ensuring that we are well-positioned to capitalise on any market upside.&#8221;<\/p>\n<p>Mr. Adrian Chui, CEO<\/p><\/blockquote>\n<ul>\n<li>Gross Revenue of S$27.7 million, Net Property Income of S$19.2 million and Distribution Per Unit of 0.956 cents<\/li>\n<li>Continued focus on employing proactive asset and lease management and prudent capital and risk management<\/li>\n<li>Leases due for renewal in FY2017 currently at only 14.8% of rental income<\/li>\n<li>Further alignment with Sponsor e-Shang Redwood Limited with name change to ESR-REIT<\/li>\n<\/ul>\n<p><!--more--><br \/>\nESR Funds Management (S) Limited, the Manager (\u201cManager\u201d) of ESR-REIT, today announced Gross Revenue of S$27.7 million for the second quarter ended 30 June 2017 (\u201c2Q2017\u201d), a marginal decrease of 2.2% from a year ago (\u201c2Q2016\u201d). Net Property Income (\u201cNPI\u201d) decreased 9.2% to S$19.2 million due mainly to loss of revenue and resultant property operating expenses during the conversion of properties from single- tenanted to multi-tenanted, higher maintenance costs and property divestments in FY2016.<\/p>\n<p>Amount available for distribution for 2Q2017 was S$12.5 million, which translates to a Distribution Per Unit (\u201cDPU\u201d) of 0.956 cents for 2Q2017.<\/p>\n<p><a href=\"http:\/\/esr-reit.listedcompany.com\/newsroom\/20170713_063718_J91U_N545OOIJNGP6CY4S.2.pdf\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n<p>&nbsp;<\/p>\n<blockquote>\n<div class=\"page\" title=\"Page 1\"><a href=\"https:\/\/app.yieldsavvy.com\/reits\/singapore\/earnings-calendar\/\">Click here for complete list of Singapore REITs earnings calendar and results<\/a><\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Although challenging business conditions continue to bring about a slowdown in the industrial property market, we are establishing the foundation for ESR-REIT\u2019s next stage of development by employing a proactive asset and lease management strategy and exercising a prudent capital and risk management approach to our business. In doing so, we remain committed towards unlocking &#8230; <a title=\"ESR-REIT Delivers Steady Performance for 2Q2017\" class=\"read-more\" href=\"https:\/\/reits.yieldsavvy.com\/singapore\/2017\/07\/esr-reit-delivers-steady-performance-2q2017\/\" aria-label=\"Read more about ESR-REIT Delivers Steady Performance for 2Q2017\">Read more<\/a><\/p>\n","protected":false},"author":4,"featured_media":444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":"","footnotes":""},"categories":[12],"tags":[48,6],"class_list":["post-442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-esr-reit-j91u","tag-esr-reit-j91u","tag-financial-results"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ESR-REIT Delivers Steady Performance for 2Q2017 - YieldSavvy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reits.yieldsavvy.com\/singapore\/2017\/07\/esr-reit-delivers-steady-performance-2q2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESR-REIT Delivers Steady Performance for 2Q2017 - YieldSavvy\" \/>\n<meta property=\"og:description\" content=\"&#8220;Although challenging business conditions continue to bring about a slowdown in the industrial property market, we are establishing the foundation for ESR-REIT\u2019s next stage of development by employing a proactive asset and lease management strategy and exercising a prudent capital and risk management approach to our business. 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