The management declared a DPU of 2.58c for 3Q FY2013 as it pays out 100% of taxable income for the quarter. Note that this includes 0.05c from a tax adjustment.
So, removing this, a more accurate DPU from its business is 2.53c for the quarter.
NAV/unit: $1.469
Gearing: 33.6%
Interest cover ratio: 4.6x
No major refinancing needs till FY2016.
Total Assets: $1.048 billion
Occupancy: 98.5%
Average security deposit per property: 6.8 months
Average land lease expiry: 40.4 years
The management impresses with securing lease renewals from its tenants way ahead of expiries and with positive rental reversions to the tune of 23.5% on average to boot.
Currently, only 6.3% of leases are expiring in FY2013 and only 8.3% of leases are expiring in FY2014. Managing to renew these leases and with a corresponding increase in rental could bump up ......The management declared a DPU of 2.58c for 3Q FY2013 as it pays out 100% of taxable income for the quarter. Note that this includes 0.05c from a tax adjustment.
So, removing this, a more accurate DPU from its business is 2.53c for the quarter.
NAV/unit: $1.469
Gearing: 33.6%
Interest cover ratio: 4.6x
No major refinancing needs till FY2016.
Total Assets: $1.048 billion
Occupancy: 98.5%
Average security deposit per property: 6.8 months
Average land lease expiry: 40.4 years
The management impresses with securing lease renewals from its tenants way ahead of expiries and with positive rental reversions to the tune of 23.5% on average to boot.
Currently, only 6.3% of leases are expiring in FY2013 and only 8.3% of leases are expiring in FY2014. Managing to renew these leases and with a corresponding increase in rental could bump up ......
