EC World REIT reports 3QFY2023 DPU of 0.916 cents, 32.8% lower y-o-y

EC World REIT has reported a calculated distribution per unit (DPU) of 0.916 cents for the 3QFY2023 ended Sept 30, 32.8% lower y-o-y. Calculated DPU for the 9MFY2023 stood at 2.969 cents, 28.2% lower y-o-y

Calculated distributable income for the 3QFY2023 fell by 32.9% y-o-y to $7.4 million due mainly to the weakening of the renminbi (RMB) against the Singapore dollar (SGD). The higher finance costs, which increased by 10.8% y-o-y, as well as assumed retention also contributed to the decline. This was offset by the organic rental escalations built-in in existing leases.