Sasseur REIT’s DPU rises 3.8% YoY to $0.01831 in Q3

This is the REIT’s highest Q3 DPU since its IPO listing in 2018.

Sasseur REIT’s distribution per unit (DPU) rose 3.8% year-on-year to $0.01831 in the third quarter (Q3) of FY2021, the REIT’s highest Q3 DPU since its IPO listing in 2018.

The DPU measured for the first nine months of 2021 also increased by 12.9% to $0.05204 compared to a year ago.

Assuming that distributable income was not retained at S$1m, the nine-month DPU would have been $0.05661, nearly 23% higher than 2020.

In a bourse filing, the REIT attributed the increase in its DPU to “lower interest expenses, tax, and trust expenses at the REIT level, together with a favourable RMB to SGD exchange rate.”

The DPU will be paid out on 28 December 2021 after the books closure on 13 December 2021.

Apart from its DPU, Sasseur also saw growth in the total generated sales of its four outlets in China.

For the quarter, total sales increased 12.0% q-o-q to $211.13m (RMB996.6m); and for the first nine months it soared 21.8% to  $639.92m (RMB 3.02b).

On the other hand, the REIT’s entrusted management agreement (EMA) rental income dropped by 1.4% in Q3 to $31.85m (RMB 150.4m).

(1 RMB = 0.21 SGD)