• Healthy operating metrics: 96.4% occupancy and 2.3% rental reversion outside China.
• Active portfolio rejuvenation with proposed divestments of two properties in China and a property in Singapore for approximately S$155 million.
Financial Highlights.
Gross revenue and net property income (“NPI”) for 1Q FY26/27 increased by 0.8% and 2.0% year-on-year (“y-o-y”) to S$178.9 million and S$156.4 million respectively.
The increase was largely driven by contribution from the recent acquisition in India and full-quarter contribution from the completed redevelopment project in Singapore, partly offset by the absence of contribution from divested properties and weaker regional currencies.
Borrowing costs declined 2.7% y-o-y driven by proactive refinancing efforts and paying down of debt with proceeds from divestments.
Accordingly, the amount distributable to Unitholders grew 1.1% y-o-y, while available distribution per unit (“DPU”) was 0.2% higher.
Compared with the preceding quarter 4Q FY25/26, gross revenue and NPI were 1.3% and 3.3% higher quarter-on-quarter (“q-o-q”) respectively mainly due to full-quarter contribution from
...• Available DPU edged 0.2% higher year-on-year supported by resilient portfolio performance.