Frasers Centrepoint Trust property, Causeway Point. (Photo: REITsWeek)

Data from Frasers Centrepoint Trust’s (FCT’s) latest results have been updated into the Singapore REITs table.

Frasers Centrepoint Trust (FCT) has reported distribution per unit (DPU) of 4.372 cents for its 2H 2020, 26.1% lower year-on-year.

This brings the REIT’s total DPU for its financial year ended 30 September 2020 to 9.042 cents, 25.1% lower compared with the previous year.

“The COVID-19 pandemic has hit the retail sector hard, particularly in the second half of FY2020”, said Richard Ng in a statement on 3 November to mark the results.

“We have been working with our tenants in various ways to support them through this difficult period, including the provision of rental rebates which impacted the financial performance in 2H20 and for the full year”, he added.

The total quantum of rental rebates provided in 2H 2020 was SGD27.35 million (USD19 million).

Revenue in 2H20 declined 33.8% year-on-year to SGD64.46 million and net property income in 2H20 was down 42.8% year-on-year to SGD38.61 million.

This, in turn led to a 16.3% y-o-y decline in full year revenue to SGD164.38 million and a 20.4% decline in full year net property income to SGD110.89 million.

Unitholders as of record date on 6 October 2020 can expect to receive their DPU for 2H20 on 4 December 2020.

FCT was last done on the SGX at SGD2.08, which implies a distribution yield of 4.2% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

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