K-Reit Asia pays up its dues

Superb results from K-Reit Asia particularly from OFC contribution.  Time for its shareholders to view the OFC purchase in positive lights now.

Same comparative reporting period with 2011, there will be no dividend payment for Qtr 1 results.

In a separate announcement made today, K-Reit changing to quarterly Distributions.

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K-REIT Asia’s Distributable Income for 1Q2012 Doubled

- Annualised 1Q2012 Distribution Per Unit (DPU) increased 96.4% to 7.64 cents.

- Distributable income for 1Q2012 doubled from the previous quarter to $48.5 million due mainly to the contribution from the approximately 87.5% interest in Ocean Financial Centre (“OFC Interest”) that was acquired on 14 December 2011.

- Net income increased 113.0% year-on-year to $34.1 million due mainly to the contribution from the OFC Interest, and the increase in the share of results from BFC Development Pte Ltd (“BFCDPL”) and One Raffles Quay Pte Ltd (“ORQPL”).

- Average portfolio committed occupancy rose to 96.1% as at end-1Q 2012 from 94.1% as at end- 4Q 2011.

- 96.3% Singapore portfolio committed occupancy remains well above the average Singapore Core Central Business District (“CBD”) occupancy of 90.7%1.

full announcement :- K-Reit


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Unitholders to receive quarterly Distributions
 
The Board of Directors of K-REIT Asia Management Limited, the manager of K-REIT Asia (“K-REIT”), wishes to announce that K-REIT will make its distributions on a quarterly basis commencing from the financial quarter ending on 30 September 2012 (“3Q2012”). K-REIT will make its final half yearly distribution to holders of units in K-REIT (“Unitholders”) for the period from 1 January 2012 to 30 June 2012 (“1H2012”) before commencing with the quarterly distributions from 3Q2012. Unitholders can expect to receive their distributions in respect of 1H2012 and 3Q2012 in August 2012 and November 2012 respectively.