Basic Profile & Key Statistics

Far East Hospitality Trust (FEHT) is a stapled group that owns 13 properties in Singapore. Some of the properties have space for retail and office.

Performance Review

Gross revenue, NPI, income available for distribution and DPU decreased YoY by 34.8%, 38%, 29.5% and 30.7% respectively. The decrease is mainly due to a decline in master lease rental for hospitality properties and rental rebates given to commercial (retail and office) tenants. Around 19.3% of the distribution is from the retention in 1H FY2020.

Lease Profile

  • WALE is long at 10.02 years
  • Highest lease expiry within 5 years is low at 8.5% which falls in this year.
  • Weighted average land lease expiry is moderate at 62.33 years

Debt Profile

  • Gearing ratio is slightly high at 40.9%
  • Cost of debt is low at 2.4%
  • Fixed rate debt % is low at 60.3%
  • All debts are unsecured debts
  • WADM is short at 2.3 years