All has been smooth-sailing for this REIT since IPO

SINGAPORE (Feb 17): Amid growing concerns about the state of locally listed industrial property trusts, Frasers Logistics and Industrial Trust (FLT), which is part of the Frasers Centrepoint group, has been performing well since its IPO last June.

Units in FLT are currently trading 7.8% above their IPO price of 89 cents. In addition, some 1.84 cents per unit has been paid out, in respect of the period from June 20 to Sept 30 last year.

That distribution per unit (DPU) was 2.8% more than forecast. FLT has since announced a further DPU of 1.74 cents for the three months to Dec 31, which exceeded forecast by 6.1%. However, FLT has a September year-end and pays its DPU on a semi-annual basis.

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