Singapore-listed industrial landlord AIMS AMP Industrial Capital REIT has posted zero year-on-year growth in DPU for its 1Q2014 by giving a DPU of 2.5 cents. The DPU figure includes an advanced distribution of 0.85 cents for the period of 1 April 2013 to 1 May 2013.

Taken quarter-on quarter, the DPU figure represents a contraction of 20.4 percent from the 3.14 cents paid in the 4Q2013.

AIMS AMP Capital Industrial REIT consists of a portfolio of 25 industrial properties across Singapore

The DPU numbers have come about despite a 17.1 percent and 12 percent growth in year-on-year gross revenue and distributable income respectively.

AIMS AMP rate maintains a portfolio occupancy of 98 percent and a Weighted Average Lease to Expiry (WALE) of 3.12 years. However the REIT has indicated that it expects growth to be moderated as it remains cautiously positive on the outlook of the Singapore economy.

“Barring any unforeseen event, the AIMS AMP REIT is well positioned to maintain a stable performance throughout the financial year,” said Mr. Nick McGrath, CEO for the Manager.

Units of AIMS AMP REIT slid 1.53 percent on the news to close at S$1.61. This story and others will be covered in greater detail in the upcoming issue of REITSWEEK. Subscribe here.