As such, EC World REIT’s 2Q21 DPU is consistant with the DPU paid out in 1Q21.
See also: RHB upgrades EC World REIT to 'trading buy' on potential takeover offer
For 1HFY21, EC World REIT’s DPU stood at 3.06 cents, up 20.4%, while net property income came in 18.4% higher at S$55.6 million.
Gross revenue came in at $31.2 million in 1HFY21, up 10.6% y-o-y, while net property income was up 8.1% to $27.9 million. This follows the strengthening of the yuan.
As at June 30, the REIT’s cash and cash equivalents stood at $14.4 million, up from $10.2 million in the previous year.
The REIT had a portfolio occupancy of 99.1% across it eight properties as at end June.
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Its weighted average lease to expiry is three years by gross rental income and 2.7 years by net lettable area which was 37.6%.
On May 17, EC World REIT disclosed that it had been approached by Forchn International on a potential transaction that could lead to a divestment of its properties. In its Aug 6 results filing, the group said there have been no new developments on this.
Units in EC World REIT closed flat at 81.5 cents.
Cover image: EC World REIT
