K-REIT Asia’s Q4 DPU rose 9.7%

K-REIT Asia said it will distribute 5.75 Singapore cents a unit for the quarter ended December. That’s 9.7 per cent higher from a year ago.

The commercial property investor said its distributable income for the quarter totalled S$19.4 million, up from S$17.4 million a year earlier.

K-reit said net property income rose 13.6 per cent in the fourth quarter to S$13.4 million.

Net property income for the full year came in 23.2 per cent higher at S$48.9 million.

Going forward, the trust said with the enhanced financial flexibility from the rights issue completed in November, it intends to pursue opportunities for strategic acquisitions in Singapore and other Asian growth cities.

Source : Channel NewsAsia – 20 Jan 2010