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

Data from Frasers Centrepoint Trust’s latest disclosure has been incorporated into the Singapore REITs table.

Frasers Centrepoint Trust (FCT) reported on 27 October that it has achieved a distribution per unit (DPU) of 6.089 cents for its 2H 2021.

This represents an increase of 39.3% year-on-year.

Revenue for 2H 2021 grew 159.9% to SGD167.5 million and full year revenue more than doubled to a new-high of SGD341.2 million.

Accordingly, net property income (NPI) for 2H 2021 was SGD120.9 million, and this brought the full year NPI to SGD246.6 million.

FCT’s retail portfolio committed occupancy improved 0.9 percentage-point to 97.3%.

A total of 459 leases were renewed in FY2021 and the rental reversion of the retail portfolio, on an incoming versus outgoing basis, was at -0.6%.

The REIT’s gearing level was at 33.3% and year-to-date interest coverage ratio of 5.11 times as at 30 September 2021.

The year-to-date all-in average cost of borrowing was 2.2%.

FCT was last done on the SGX at SGD2.36, which presently implies a distribution yield of 5.12% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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