Soilbuild Business Space Reit (SV3U) released their results for FY2015 yesterday as I just purchased several lots of this counter at $0.725 as per my strategy for this bear market. Fortunately for me, the results were quite satisfactory as distribution per unit (DPU) increased by 4.7% year-on-year to 6.487 cents. This brings my annualized distribution yield to 8.9%. The dividend yield is really great assuming they maintain their current performance for FY2016. Business fundamentals remain strong with increment of 16.4% and 18.2% in gross revenue and NPI respectively; Decent occupancy rates at 96.8% with an average Weighted Average Lease Expiry (WALE) at 4.8 years. Additionally, in response to a higher interest rate environment, the management has fixed 97.9% of interest bearing loans through medium-term notes / currency swaps. Gearing is around 38%. Soilbuild Reit portfolio includes 2 business park buildings and 9 factories. One concern I ......