During the quarter ended December, total Entrusted Management Agreement (EMA) rental income came in at RMB 159.1 million, 2.1% lower y-o-y. This was mainly due to a 10.0% y-o-y drop in the variable component to RMB 56.7 million, while this was partially offset by a 3.0% y-o-y increase in the fixed component to RMB 102.4 million.
The manager of Sasseur REIT announced that its 4QFY2020 distribution per unit (DPU) has increased by 18.8% to 1.935 cents from 1.629 cents a year ago, with income available for distribution to unitholders coming in 19.7% higher at $23.3 million from 19.5 million in 4QFY2019.
This brings FY2020 DPU to 6.545 cents, 0.2% higher than 6.533 cents last year. This is attributable to the rapid rebound of the Chinese economy in the second half of 2020, following China’s stringent control of Covid-19, as well as the strong operational capabilities of and proactive asset management actions taken by the entrusted manager, lower tax expenses and a strengthening RMB.
