Net property income (NPI) fell 17.6% to $17.9 million from $14.1 million in 4Q16 for similar reasons. The lower NPI was also due to a $1.1 million provision for impairment for other receivables at Fu Zhuo Industrial, which has no impact on EC World REIT’s DPU.
SINGAPORE (Feb 28): The manager of EC World REIT has declared a 4Q distribution per unit (DPU) of 1.508 cents, which is 2.8% higher from its 4Q16 DPU of 1.463 cents on lower forex losses.
The higher DPU comes despite a 16.4% decline in gross revenue, which fell to $20.7 million from $24.7 million previously after factoring in adjustments for effective rent which have no impact on DPU.
