The manager attributes the drop in the distributable amount to the depreciation of the yen and rupiah against the Singapore dollar
FIRST Real Estate Investment Trust (First Reit) on Friday (Jul 26) posted a distribution per unit (DPU) of S$0.012 for the first half ended Jun 30, 2024, down 3.2 per cent from the same period a year before.
The manager attributed the drop in the distributable amount to the depreciation of the yen and rupiah against the Singapore dollar.
First Reit’s rental and other income fell 3.7 per cent on the year to S$52 million from S$54 million. Net property and other income, meanwhile, declined 4.1 per cent to S$50.3 million from S$52.4 million.
The distributable amount stood at S$25 million for the half-year period, compared with S$25.5 million in the same period the previous year. It will be paid on Sep 25, after books close on Aug 6.
First Reit units closed 2 per cent or S$0.005 higher at S$0.255 on Thursday.
