Friday, January 20, 2012

One-off events pull down Ascott Trust DPU

Business Times: Fri, Jan 20
DISTRIBUTION per unit for the fourth quarter at Ascott Residence Trust has fallen 15 per cent from a year ago and is 8 per cent below the trust manager's forecast, due to costs incurred for one-off events in the quarter.

For the current year, 'we expect operating performance of our properties to improve over 2011 based on source currency', said Ascott Residence Trust Management Ltd CEO Chong Kee Hiong. However, this is likely to be offset by an estimated 50 basis point increase in interest expense in 2012...

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