On a year-on-year (“y-o-y”) basis, 2Q FY25/26 gross revenue and NPI were 3.2% and 3.3% lower,
mainly due to foreign exchange impact from weaker regional currencies relative to the Singapore
Dollar. On a constant currency basis, gross revenue and NPI would have registered lower declines
of 0.9% and 1.0% respectively, primarily due to loss of contribution from 13 divested properties,
partially offset by growth from the existing portfolio and contribution from a newly completed
redevelopment project in Singapore.
Borrowing costs declined 4.0% y-o-y driven by proactive refinancing efforts and paring down of debt
with proceeds from divestments. This helped cushion the absence of divestment gains, which
contributed S$6.1 million in 2Q FY24/25. Accordingly, the amount distributable to Unitholders
declined 9.6% y-o-y and DPU was 10.5% lower on an enlarged unit base. Excluding divestment
gains, adjusted DPU from operations registered a moderate decline of 4.8% y-o-y.
2Q FY25/26 Distribution per Unit (“DPU”) rose 0.2% quarter-on-quarter underpinned by
continued resilient operational performance
• Healthy portfolio operating metrics – 96.1% occupancy and 2.5% positive rental reversions
excluding China.
XD 4th November.
Pls dyodd.
