Back in October 2020, the COVID-19 pandemic had shown no signs of letting up, 10 months after the first infection was reported in Singapore. The ensuing economic fallout was severe. Even Singapore’s largest real estate investment trust (REIT), Ascendas REIT (SGX: A17U), was not spared. The REIT reported negative rental reversion at many of its Singapore assets and warned of a weak market outlook caused by uncertainty over the pandemic. But fast forward a few months, and we now have a slightly less hazy view of the road ahead. Ascendas REIT recently released its full financial report for fiscal year (FY) 2020, and here are four important takeaways. NPI increase, DPU dips Ascendas REIT’s gross revenue for the year came in at S$1.05 billion for FY2020, a year on year increase of 13.6%. Net property income (NPI) and distributable income also improved year on year by 9.4% and 6.7%, respectively....