As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Monday, 21 July 2014

Unaudited Results of Keppel REIT for the Second Quarter and Half Year Ended 30 June 2014

Keppel REIT's Distributable Income for 1H 2014 grew 3.0% year-on-year
Achieved distribution yield of 6.1%
  • Property income rose 14.0% year-on-year ("y-o-y") to $94.1 million for 1H 2014 due to improved performance from Ocean Financial Centre and Prudential Tower, as well as additional income from 8 Exhibition Street in Melbourne, which was acquired in August 2013.
  • Net property income increased 18.0% y-o-y to $78.7 million.
  • Distributable income rose to $108.3 million, an increase of 3.0% y-o-y.
  • Distribution per unit ("DPU") of 1.90 cents for 2Q 2014, making it 3.87 cents for 1H 2014.
  • Divestment of 92.8% interest in Prudential Tower for $512 million announced, which is 4.5% above the property's valuation of $490 million and a 46.7% premium over the original purchase price.
  • Completed successfully the early renewal of some key leases to ensure income certainty over a longer term.
  • Achieved overall tenant retention rate of 87% for 1H 2014.

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