Singapore REITs

AIMS APAC REIT Announces 2Q FY2021 DPU of 2.00 Singapore Cents, Unchanged From Previous Quarter

October 27, 2020 – AIMS APAC REIT Management Limited as manager of AIMS APAC REIT announced total distributions to Unitholders of S$14.1 million for the second quarter ended 30 September 2020 (2Q FY2021), with a Distribution Per Unit (DPU) of 2.00 cents, unchanged from the previous quarter ended 30 June 2020 (1Q FY2021).

AA REIT registered gross revenue of S$30.5 million and net property income (NPI) of S$21.3 million for 2Q FY2021, representing a year-on-year decrease of 0.3% and 5.2% respectively. The marginal decrease in gross revenue was mainly due to lower contributions from 1A International Business Park arising from the conversion from master lease to multi-tenancy leases and the expiry of the master lease at 541 Yishun Industrial Park A. This was partially offset by rental contribution from the recently completed property at 3 Tuas Avenue 2 as well as Boardriders Asia Pacific HQ in Australia.

Distributions to Unitholders stood at S$14.1 million for 2Q FY2021, a decrease of S$3.3 million or 18.9% year-on-year. On a year-on-year basis, DPU was 20.0% lower at 2.00 cents mainly due to lower net property income, management fees paid fully in cash for 2Q FY2021 as well as amount reserved for distribution to Perpetual Securities holders.

The Manager’s Chief Executive Officer, Mr Koh Wee Lih, said, “We are pleased to have achieved a resilient performance amidst the global uncertainties. We have been progressively passing on rebates and concessions to qualifying tenants in Singapore within the prescribed timeline and will continue to nurture and actively engage with our tenants as business activities gradually resume.”

“Our resilient portfolio, anchored by 50% in the logistics and warehouse sector, has continued to enjoy a high occupancy, well above JTC industrial average.”

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