What’s moving - 25 July

🌱 The MAS has proposed a single leverage limit of 50% and a minimum interest coverage ratio of 1.5 times for REITs. Additionally, they could need to disclose the impact on the coverage ratio from movements in their EBITDA and interest rates at the interim earnings reports and annual reports. Read our analysis here.

🌱 Mapletree Logistics Trust reported a 8.9% year-on-year decline in DPU to 2.068 cents for quarter ended Jun 24. This was also 6.5% lower than the Mar quarter. The decline is due to higher borrowing costs and tax. Read our analysis here.

🌱 Digital Core REIT’s 1H24 DPU fell 6.3% year-on-year to 1.80 US cents, of which 0.48 US cents was paid in April as an Advanced Distribution. Revenue and net property income declined due to the sale of two assets in Jan 2024. Read our analysis here.

🌱 Frasers Centrepoint Trust’s portfolio committed occupancy dipped slightly to 99.7% in the June quarter, from 99.9% in the previous quarter. Read our analysis here.

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