Net property and other income was 4.1% lower y-o-y at $50.3 million in 1HFY2024 amid higher property operating expenses. Finance costs also grew by $0.1 million to $11.3 million on interest rate risk and currency risk management.
First REIT has reported a DPU of 1.2 cents for 1HFY2024 ended June, down 3.2% from the 1.24 cents recorded in the previous corresponding period due to stronger Singapore dollar against the Indonesian rupiah and Japanese yen.
In 1HFY2024, the REIT’s rental and other income dipped 3.7% y-o-y to $52 million. In local currency, rental and other income increased 4.4% y-o-y for properties in Indonesia and 2% y-o-y for nursing homes in Singapore, while nursing homes in Japan remained stable.
