Singapore-listed Healthcare REIT Parkway Life (PLife REIT) has reported a distribution per unit (DPU) of 2.69 cents for its 4Q12 which ended December 31. This represents a year-on-year jump of 9.5% from its previous 4Q distribution of 2.4 cents. This brings PLife REIT's total distribution for 2012 to 10.31 cents per unit. This is up 7.5% from its full year distribution in 2011.

PLife REIT's boost in NPI for 4Q12 has been attributed to higher rents from its properties in Singapore.

Gross revenue inched up 5% from the previous year quarter to S$23.98 million while net property income (NPI) increased 7.6 per cent to S$86.4 million. Income available for distribution's up to S$62.4 million, a jump of 7.5%. The boost has been attributed to higher rents from existing properties in Singapore and income from newly acquired assets in 2012.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.