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Cache Logistics Trust Announces Name Change to ARA LOGOS Logistics Trust, Reports Stable DPU For 1Q 2020

Cache Logistics Trust Announces Name Change to ARA LOGOS Logistics Trust, Reports Lower DPU For 1Q 2020

April 28, 2020 — ARA LOGOS Logistics Trust Management Limited, previously known as ARA Trust Management (Cache) Limited, the “Manager” of Cache Logistics Trust (“Cache”), announced today the official renaming of Cache to ARA LOGOS Logistics Trust (“ALOG” or the “REIT”) with effect from 28 April 2020.

As part of the renaming of Cache, the Manager has also been renamed to ARA LOGOS Logistics Trust Management Limited to reflect the strong commitment from ARA Asset Management Limited (“ARA”) and LOGOS Group (“LOGOS”) to create long-term sustainable value for ALOG’s Unitholders.

The REIT’s trading name on the Singapore Exchange Securities Trading (“SGX-ST”) will also be changed from “Cache Log Trust” to “ARA LOGOS Log Tr”, with effect from 9.00am on 30 April 2020. The REIT’s stock code, being “K2LU” remains unchanged.

The renaming signifies the transformation of ALOG, now part of LOGOS, which is one of Asia Pacific’s leading and fastest growing logistics real estate specialists. Majority-owned by ARA, LOGOS operates as its exclusive logistics real estate platform, with S$9.4 billion in assets under management as at 31 December 2019.

In a separate release, the REIT also reported a Distributable Income of S$10.9 million for the period 1 January 2020 to 31 March 2020 (“1Q 2020”). The distribution per unit (“DPU”) for 1Q 2020 was 0.997 cents, lower than the 1.513 in 1Q 2019.

1Q 2020 Gross Revenue and NPI each rose 5.8% and 7.6% respectively to S$28.8 million and S$22.0 million compared to 4Q 2019. Higher Gross Revenue and NPI were reported for the quarter, mainly due to the higher occupancy and commencement of new leases at several properties. Excluding the S$2.3 million one-off tax- exempt distribution in 4Q 2019 from the divestment of Jinshan and the withholding of approximately 20% of the total distributable income this quarter, 1Q 2020 DPU was 10.1% higher on a like-for-like basis.

For more details on the name change, click here.

For more details on their 1Q performance, click here.

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