Data from EC World REIT’s latest results have been updated into the Singapore REITs table.
EC World REIT has reported gross revenue and net property (NPI) of SGD31.2 million and SGD28 million for its 2Q 2021.
These represent year-on-year increases of 10.6% and 8.1% respectively.
However, the REIT’s total amount available for distribution came in at SGD11.6 million, which represents a fall of 6.4%.
EC World REIT has attributed this largely to higher withholding tax as a result of repatriation of income.
But distribution per unit (DPU) for the quarter came in at 1.532 Singapore cents, which is 10.5% higher year-on-year.
The REIT’s full disclosure on its results can be viewed here.
EC World REIT was last done on the Singapore Exchange at SGD0.815, which currently implies a distribution yield of 7.52% according to data compiled on the Singapore REITs table.