On 26th July 2019, Frasers Logistics and Industrial Trust announced their 3QFY19 financial results. The manager has declared a Distribution Per Unit (“DPU”) of 1.73 Singapore cents. This was a 3.9% decrease as compared to 1.80 Singapore cents in 3QFY18. If we looked at the Distribution Per Unit (“DPU”) in Australian cents, the Distribution Per Unit (“DPU”) was 1.82 cents as compared to 1.76 cents in 3QFY18 which was 3.4% higher.
The DPU is still suffering due to the softening of AUD and EUR against the SGD. The exchange rate was A$1.00: S$0.9504 (3QFY18: A$1.00:S$1.0214). OccupancyFrasers Logistics and Industrial Trust’s portfolio remained at near full occupancy of 99.5%, with a weighted average lease expiry (“WALE”) by gross rental income (“GRI”) of 6.27 years. I liked the annual average rent increment baked into its Australia assets.
As of 30 June 2019 Australia Europe Total Number of properties 59 22 81...