FirstReit 1QFY2016

Revenue                             = $26,496K
NPI                                    = $26,207K
Distributable Income         = $16,197K
DPU                                   = 2.11 cents (1QFY2015 2.06 cents)
Total Debt                          = $452m
Gearing                               = 34%
NAV                                   = 103.32 cents

KeppelReit 1QFY2016

Property Income                    $40.5m
NPI                                        $32.4m
Shr of Associates                  $18.8m
Shr of JV                               $6.8m
Income Available for Dist    $54.4m
DPU                                      1.68 cents
NAV                                     $1.42
Gearing                                 39%
Interest Coverage Ratio        4.5
All-in Interest rate                 2.58%
Top Ten Tenants WALE      8 years
Portfolio WALE                    6 years

The office rental sector is facing strong headwind currently but Kreit is buffeted by long WALE overall. After Marina One, DUO and Fraser Tower coming up in 2017 and 2018 respectively,there will no more new supply for prime district area.So hang on, light is at the end of the tunnel.

SoilBuild Trust 1QFY2016

Gross Revenue                                                 = $20,142K
NPI                                                                  = $17,193K
Distributable Income                                       = $14,609K
DPU                                                                 = 1.557 cents
NAV                                                                = 79 cents
Leverage                                                          = 36.0%
Average All-In Interest Ratio                          = 3.36%
Interest Cover                                                   = NM
WALE                                                              = 4.3 years

CRCT 1QFY2016

Gross Revenue                                            RMB 256,528,000
NPI                                                              RMB 169,384,000
NPI                                                              $ 36,692,000
Distributable Income                                   $ 23,185,000
DPU                                                             2.71 cents (2.64 cents for 1QFY15)
NAV (adjusted for dist)                               $ 1.64
Gearing                                                        28.7%
Interest Cover                                              6.4X
Avg Cost Of Debt                                        3.04%
Unencumbered Assets                                 97.3%
Net Debt/EBITDA                                       5.3X

Keppel Infrastrusture Trust 1QFY2016

DPU                                0.93 cents
Distributable CF             $40.7m
NAV                               33.7 cents
Gearing                           36%

Total Assets                    $4,094m
Total Liabilities              $2,570m
Total Borrowings           $1,708m
Cash                                $221m
Net Debt/EBITDA          6.8X

SPH 2QFY2016

Operating Revenue                    $259,297K
Operating Profit                         $68,123K
Investment Income                    $7,225K
Profit After Taxation                 $63,776K
Net Profit Attr To Shrs              $54,131K
EPS                                            3 cents
NAV                                           $2.16
Cash & Cash Equiv                    $288,185K

Comment: Operating profit was basically flat y-o-y but a fall in net investment income of  62.4%
result in net profit after tax to drop by 19.6%.

Certificate Of Appreciation!