Despite following its performance for long, I still learned new things about the Reit after attending its AGM yesterday.
In this article, I share some key takeaways and candid opinions expressed by Dr Chew Tuan Chiong, the CEO of FCT.
FY 17 DPU Increased Despite Northpoint City AEI
The AGM started with Dr Chew presenting the FY17 results. He commented that the Reit achieved a record high 11.90c Distribution Per Unit (DPU), despite a lower revenue and Net Property Income (NPI) due to Northpoint City’s Asset Enhancement Initiative (AEI) during most of FY16 and 17. It is more commendable that according to Dr Chew, the management still retained a small amount of earnings last FY for future usage.
A shareholder praised …