Basic Profile & Key Statistics
Performance Highlight
Gross revenue and NPI remain stable YoY, but income available for distribution decreased significantly due to higher finance costs and 100% of management fees being received in cash. For DPU, the manager has decided to distribute 0.25 cent and retain the rest to fund capital expenditure and pare down borrowings.
Rental Reversion
Rental reversion for 4Q stands at 9.6%, while for FY23, it's at 5.8%.
Related Parties Shareholding
The directors of the REIT manager hold a relatively high proportion of shares, while the REIT sponsor holds a relatively low proportion.
Lease Profile
Committed occupancy is low, but lease expiry is well spread and all properties are freehold.
Debt Profile
The gearing ratio is high with all debts being secured debt. Additionally, WADM is short, and debt maturity is concentrated.
Diversification Profile
The portfolio demonstrates diversification across geographical locations and properties. However, there is concentration among the top 10 tenants, although
