Keppel REIT reports 7.2% higher NPI of $48.2 mil in 1QFY2024

Felicia Tan04-23

During the quarter, distributable income from operations stood flat at $50.2 million from higher borrowing costs.The manager of Keppel REIT has reported property income of $61.3 million for the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2429812499?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-23 00:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2429812499","market":"other","top_or_hot":-1,"title":"Keppel REIT reports 7.2% higher NPI of $48.2 mil in 1QFY2024","media":"Felicia Tan","content":"<div>\n<p>During the quarter, distributable income from operations stood flat at $50.2 million from higher borrowing costs.The manager of Keppel REIT has reported property income of $61.3 million for the ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/results/keppel-reit-reports-72-higher-npi-482-mil-1qfy2024?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Keppel REIT reports 7.2% higher NPI of $48.2 mil in 1QFY2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKeppel REIT reports 7.2% higher NPI of $48.2 mil in 1QFY2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 00:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/results/keppel-reit-reports-72-higher-npi-482-mil-1qfy2024?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Felicia Tan</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>During the quarter, distributable income from operations stood flat at $50.2 million from higher borrowing costs.The manager of Keppel REIT has reported property income of $61.3 million for the ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/results/keppel-reit-reports-72-higher-npi-482-mil-1qfy2024?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999005177.SGD","symbol_name":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","start_time":0,"source_url":"https://www.theedgesingapore.com/capital/results/keppel-reit-reports-72-higher-npi-482-mil-1qfy2024?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2429812499","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429812499","pubTimestamp":1713802546,"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"During the quarter, distributable income from operations stood flat at $50.2 million from higher borrowing costs.","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999001135.SGD":"United ASEAN Fund SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","BK6111":"工业集团企业","BN4.SI":"吉宝有限公司","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","CFA.SI":"NikkoAM-STC Asia REIT","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","BK4223":"办公室房地产信托","BK6523":"ESG概念","BK6505":"周期性消费品与消费者服务","SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","KREVF":"Keppel REIT","REIT":"ALPS Active REIT ETF","SG9999013478.USD":"利安新加坡股息基金","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","BK4194":"办公房地产投资信托","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC"},"translate_title":"吉宝产业信讬报告2024财年第一季度NPI增长7.2%，达到4820万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BN4.SI":1,"CFA.SI":1,"KREVF":1,"REIT":1},"content_text":"During the quarter, distributable income from operations stood flat at $50.2 million from higher borrowing costs.The manager of Keppel REIT has reported property income of $61.3 million for the 1QFY2024 ended March 31, 6.3% higher y-o-y.\nNet property income (NPI) grew by 7.2% y-o-y to $48.2 million. The higher property income and NPI were attributed to higher rentals and contributions from 2 Blue Street.\nNPI attributable to unitholders rose by 7.1% y-o-y to $43.4 million during the quarter.\nShare of results of associates, which are Keppel REIT’s one-third interests in One Raffles Quay and Marina Bay Financial Centre, rose by 11.2% y-o-y to $21.9 million from higher rentals. The growth was offset by higher borrowing costs and property expenses.\nShare of results of joint ventures (JVs), which are Keppel REIT’s 50% interests in 8 Chifley Square and David Malcolm Justice Centre, fell by 5.4% y-o-y to $5.7 million.\nBorrowing costs during the quarter was up by 21.3% y-o-y at $18.7 million.\nDespite the higher operating performance, distributable income from operations stood flat at $50.2 million and at $55.2 million, including the anniversary distribution of $5 million, due mainly to higher borrowing costs.\nDuring the quarter, the REIT reported positive rental reversion of 10.9%.\nAs at March 31, its portfolio committed occupancy stood at 96.4% while portfolio weighted average lease expiry (WALE) stood at 4.6 years.\nAggregate leverage as at the same period stood at 39.4% with 74% borrowings at fixed rates. Interest coverage ratio stood at 3.3 times.\nUnits in Keppel REIT closed 1 cent higher or 1.19% up at 85 cents on April 22.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429812499"}