FCOT

FCOT: Results in line with expectations. 1QFY12 DPU of 1.51c. Gross rev at $30.7m +5.8% yoy +0.7% qoq with NPI at $24.6m +7.3% yoy +1.2% qoq. Net distributable income at $9.6m is 22% higher yoy flat qoq

Net income was higher yoy due to higher contributions from Central Park offset by KeyPoint and 55 Mkt Str. Strengthening of AUD against SGD also contributed to slightly higher rev from Aus properties.

Manager has also successfully refinanced the Trust’s AUD loan for a new transferable term loan facility of A$105.0m for a term of 3 yrs at the end of Nov 2011. The new AUD Facility will lower interest expenses from 2.65% previously to 1.55%

Occupancy remained higher at 97.6% with WALE at 3.4 yrs.

No distribution for this quarter as it is semi-annually distributed