- Keppel DC REIT (SGX:AJBU)’s 2H23 gross revenue and net property income (NPI) declined 0.7% and 9.1% y-o-y to S$140.7m and S$117.6m, respectively. See Keppel DC REIT's dividend dates.
2H23 and FY23 results fell short of expectations due to rental arrears in China
- - Read this at SGinvestors.io -
- Coupled with a spike in finance costs, Keppel DC REIT reported a 16.1% y-o-y dip in 2H23 DPU to 4.332 Singapore cents.
- For similar reasons, Keppel DC REIT's FY23 DPU slipped 8.1% y-o-y to 9.383 Singapore cents and fell short of our forecast by 6.2%.
Portfolio occupancy stable at 98.3% and positive rental reversions achieved....
- - Read this at SGinvestors.io -
- The master lessee at its Guangdong data centres did settle part of the sums in arrears amounting to CNY0.5m (~S$0.1m), but this amount is paltry in comparison to the arrears of CNY48.3m and request for security deposit top-ups of CNY32.2m as announced by Keppel DC REIT on 15 Dec 2023.
... but recovery progress of arrears a more critical development to monitor
- Read more at SGinvestors.io.
