Frasers Commercial Trust's China Square (Photo: REITsWeek)

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

Frasers Logistics & Commercial Trust (FLCT) has reported a distribution per unit (DPU) of 3.88 cents for its 2H 2021.

This represents a year-on-year increase of 6.3% from the 3.65 Singapore cents reported in 2H 2020.

During the period, the REIT recorded a revenue of SGD237.6 million and adjusted net property income of SGD181.3 million.

These represent increases of 11.4% and 12.3% respectively, from SGD213.3 million and SGD161.4 million in the previous corresponding financial period.

The REIT has attributed these increases mainly to acquisitions undertaken in FY2020 and FY2021.

Accordingly, the REIT’s distributable income rose 11.8% to SGD139.6 million for 2H 2021, compared to SGD124.9 million recorded in 2H 2020.

“Our quality portfolio continued to demonstrate resiliency, with our core logistics and industrial properties contributing significantly to our valuation uplift of 9.0% or SGD603.9 million for the FLCT portfolio”, said Robert Wallace, CEO of the REIT’s manager.

“Backed by the strengths of our attractive portfolio and our global customer network, FLCT is well-positioned to capitalise on strong logistics industry tailwinds and continue to seek further exposure to attractive growth sectors”, he added.

FLCT was last done on the SGX at SGD1.52, which presently implies a distribution yield of 5.24% according to data on the Singapore REITs table.

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.