PLife REIT declares 2.6% higher 2Q DPU of 3.27 cents

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SINGAPORE (July 31): The manager of Parkway Life Real Estate Investment Trust (PLife REIT) reported a Distribution per Unit (DPU) of 3.27 cents for 2Q19 ended June, which represented an increase of 2.6% from a year ago.

Gross revenue for 2Q19 grew 2.9% to S$28.9 million, mainly due to revenue contribution from the Japan property acquisition in 1Q18, higher rent from Singapore properties and appreciation of the Japanese Yen. Correspondingly, net  property income increased 2.3% to S$26.8 million.

As at June 30, there were no long-term debt refinancing needs for the group till...(click on link for full story on