Basic Profile & Key Statistics
Key Indicators
Performance Highlight
Gross revenue and NPI have improved YoY, primarily driven by positive rental reversions. However, the NPI increase is offset by higher utility costs and a one-off impairment loss related to 33 & 35 Penjuru Lane. Despite the abovementioned and internalization cost, the income available for distribution remains similar, while DPU is lower due to retention.
Rental Reversion
Rental reversion for 2H 2023 is at 14.7%.
Asset Enhancement Initiative
AEI for 1 Tuas Avenue 4 is on track to be completed by 1H 2024 while Phase 3 AEI for New Tech Park remains in discussion with multi-governmental and statutory boards.
ESG Initiative
The solar PV system at Changi South Street 2 was turned on in December 2023 while turn-on is expected to be in 1Q 2024 for 34 Penjuru Lane, 3A Joo Koon Circle. Solar power generation capacity for 5 properties is targeted to be expanded by 4Q 2024....