First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)

First REIT has announced a distribution per unit (DPU) of 1.86 cents for its 1Q 2020.

The REIT’s distributable income fell by 12.5% to SGD14.9 million.

Distributable income has decreased due to lower management fees payable in units, said the REIT.

First REIT has retained SGD1.0 million of its capital distributions in view of the COVID-19 pandemic.

The REIT’s healthcare assets in Singapore and abroad remain operational, while two of its malls in Indonesia, Lippo Plaza Kupang and Lippo Plaza Buton, were closed in April except for essential services.

Meanwhile, Hotel Aryaduta Manado, as part of the Manado Property that is integrated with Siloam Hospitals Manado, closed its facilities for the month of April in support of the Indonesian Government’s efforts to contain the spread of COVID-19.

Imperial Aryaduta Hotel & Country Club has closed its country club services until further notice.

First REIT has adopted semi-annual reporting for financial results with effect from the financial year ending 31 December 2020.

For FY2020, the next financial results reporting will be for the half year period ending 30 June 2020.

Notwithstanding the cessation of quarterly reporting of First REIT’s financial results, the manager will continue with quarterly distributions, said the REIT,

The payment for the 1Q 2020 Distribution will be on 18 June 2020.

Data from First REIT's results have been updated into the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.