Financial Highlights

Key Financial Figures

For the third quarter ended 30 September 2019
S$'000	3Q 2019	2Q 2019	Variance (%)	3Q 2018	Variance (%)
Gross revenue	20,165	18,205	10.8	19,855	1.6
Net property income ("NPI")	13,913	12,040	15.6	12,663	10.1
Total distribution amount declared to Unitholders	8,212	6,553	25.3	8,072	1.7
Distribution per unit ("DPU") (in cents)	0.78	0.62	25.9	0.77	1.3

As at 30 September 2019	S$'000
Total assets	961,785
Borrowings, at amortised costs	270,351
Net assets attributable to Unitholders	593,320
Units in issue and to be issued entitled to distribution ('000)	1,053,083,530
NAV per Unit (S$)	0.56
Adjusted NAV per Unit⁽¹⁾ (S$)	0.56

	As at 30 Sep 2019
Aggregate leverage⁽²⁾	30.8%
Borrowings	S$271.0 million
Average all-in financing cost⁽³⁾	4.1%
Weighted average tenor of borrowings	1.0 years
Profit cover⁽⁴⁾	4.8 times

Notes

Excludes the amount of approximately S$8.2 million (31 December 2018: S$7.4 million) for distribution for the quarter ended 30 September 2019.
Ratio of total borrowings and deferred payment over deposited property as defined in the Property Funds Appendix of the Code on Collective Investment Schemes.
Inclusive of amortisation of transaction costs.
Ratio of net property income over profit expense (excluding effects of FRS 116, amortisation of transaction costs on lease liabilities on other fees) for 3Q 2019 (31 December 2018: 4Q 2019).