Viva Industrial Trust’s Q3 DPS 2.4% lower than IPO forecast

Net property income was also lower than expected.

Viva Industrial Trust reported a distribution per stapled security (DPS) of $1.687 cents in Q3, 2.4% lower than its initial forecast of $1.729 cents.

Its $9.64m Q3 net property income was also 0.7% lower than the initial forecast of $9.7m. Gross revenue, on the other hand, was 0.7% higher than the forecasts at $14.9m.

Viva Industrial Trust saw higher actual rental contribution from new tenancies secured at UE BizHub EAST (UEBH), along with the effect of recognising accounting rental income of S$0.2 million.

Rental income contribution from Technopark@Chai Chee (TPCC) remains below forecast as a result of the upcoming asset enhancement initiative (AEI). Actual finance expenses were higher than forecast due to the interest expense on the S$100 million of Medium Term Notes (MTN) issued in September 2014.