Fu Heng Warehouse, one of six properties in EC World REIT's initial portfolio. (Photo: EC World REIT)

China-focused EC World REIT has recorded a distribution per unit (DPU) of 1.504 cents for its 4Q 2017, beating forecast made during its initial public offering (IPO) for the quarter by 0.5%.

However the REIT’s gross revenue and net property income (NPI) for the period came in at SGD20.7 million (USD15.7 million) and SGD18 million, missing projections by 8.6% and 12.5% respectively.

Subsequently, the REIT reported a full year DPU of 6.025 Singapore cents for its FY 2017, exceeding forecast by 1.5%.

EC World REIT's gross revenue and NPI for the full financial year beat expectations by 1.0% and 0.9%, at SGD91.7 million and SGD82.7 million respectively.

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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.