pstrongThe manager reported lower operating performance during the period./strong/p pEC World REIT said its distribution per unit declined 19.8% to 0.904 Singapore cents in the first quarter of the year (Q1 2024)./p pIn a bourse disclosure, the manager also said its distribution to unitholders fell 19.8% to $7.
EC World REIT said its distribution per unit declined 19.8% to 0.904 Singapore cents in the first quarter of the year .
This was attributed to the discontinuation of China Tobacco leases in relation to Hengde Logistics Phase I, lower rental income from Chongxian Port Logistics, weakening of the yuan against Singapore dollar by 4.3% year-on-year, offset by higher late fee, organic rental escalations, and lower operating expenses at the properties.
“The payment of the 1H2023 distribution will be deferred to a future date when the ECW REIT has sufficient free cash for the distribution,” it noted. We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.3. FLCT debt management, expansion to stay prudent in next 2 years: S&PSasseur REIT EMA rental income slips 1.
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