K-Reit Asia's Q2 DPU up 21% on-year
By Irene Chan, Channel NewsAsia | Posted: 20 July 2009 1842 hrs

SINGAPORE: Singapore-listed K-Reit Asia has reported a second quarter distribution per unit (DPU) of 2.64 cents. This was up 21 per cent from a year ago.

The manager of the property trust said the higher DPU was mainly due to higher rental rates for new and renewed leases.

Net property income for the three months ended June grew 34 per cent to S$12.3 million.

K-Reit said it would pay out 4.99 cents for the period from January to June, an increase of about 27 per cent compared to a year earlier.

Looking ahead, the property trust said it would continue to place emphasis on tenant retention and seek to improve operational and cost efficiencies.

It would also make selective asset acquisitions should opportunities arise.

- CNA/yt