- Keppel DC REIT secured large positive rental reversion of above 40% for a major lease in Singapore during the quarter. 3Q24 distribution per unit (DPU) rose 0.4% y-o-y and 6.1% q-o-q to 2.501 Singapore cents.
3Q24 results ahead of our expectations
- - Read this at SGinvestors.io -
- Gross revenue rose 8.9% y-o-y to S$76.9m but net property income (NPI) slipped 0.2% y-o-y to S$64.5m due to loss allowances for its Guangdong data centres which are booked under property operating expenses.
3Q24 DPU of 2.501 Singapore cents
- - Read this at SGinvestors.io -
- There were no material updates regarding the issues in China, with shortage of graphic processing unit (GPU) chips still a key stumbling block. However, management highlighted that the recent stimulus push by the Chinese government could provide a boost to the economy, while there are still strong demand signals from artificial intelligence (AI) related usage in China, thus leading to conversions from pipelines to contracts signed, albeit at a gradual pace.
Another quarter with above 40% rental reversions achieved in Singapore
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