Overall, net property income rose 18% y-o-y in 2HFY2022 to $65.8 million. For FY2022, NPI was 9.6% higher y-o-y to $121.9 million.
PLife REIT’s all in cost of debt was 1.04%, its gearing stood at 36.4% as at Dec 31, 2022, and interest cover was 18.3x.
Yong Yean Chau, Chief Executive Officer of the Manager, said: “For 15 years since its IPO in 2007, the Group has delivered un-interrupted recurring DPU growth underpinned by stable income streams supported by regular rental revision and bolt-on acquisitions. Today, PLife REIT is well-positioned with a diversified portfolio of high quality and yield accretive properties across Singapore, Malaysia and Japan. Helmed by the Group’s focused strategy of targeted investment, proactive asset management and strategic asset recycling and development and supported by the Group’s strong financial standing, the Group is well-positioned to ride the growth of the healthcare sector in the Asia-Pacific region even as it continues to create long-term value for its unitholders.”
