Dasin Retail Trust achieved 9.05% annualised Distribution Per Unit (DPU) yield for 1H2018

– Strong Portfolio Occupancy Rate of 100.0%, Healthy Gearing of 31%

SINGAPORE – (ACN Newswire) – Dasin Retail Trust Management Pte. Ltd., the Trustee-Manager of Dasin Retail Trust (“DRT”, SGX:CEDU), is pleased to report that in first half of FY2018, net property income exceeded Forecast by 7% to S$31 million. Comparing to first half of FY2017, net property income increased by 85% attributable to better operational metrics and contribution from the acquisition of Shiqi Metro Mall in June 2017.

1 Jan to 30 Jun 18             1 Jan to 30 Jun 18
 2018     2017             Actual  Forecast 
(Actual) (Actual)    (%)                           (%)
Revenue (S$'000)
37,064   21,246     74    37,064   35,190    5 
NPI (S$'000)    
31,191   16,862     85    31,191   29,087    7 
Amount available for distribution 
10,505     7,493     40   10,505   10,637    (1) 
DPU (cents) (With distribution waiver) 
   3.59       3.01      19     3.59      3.64     (2)
DPU (cents) (Without distribution waiver) 
   1.89       1.36      39     1.89      1.91     (1) 

Mr. Zhang Zhencheng, Chairman of the Trustee-Manager of DRT, said, “With the general planning of the Greater Bay Area, which will encourage the free flow of talent, goods, capital and information within the Bay Area, higher traffic flow and footfall is expected in the region and Zhongshan. This will prove beneficial to the Trust’s properties.”

Mr. Li Wen, CEO of the Trustee-Manager of DRT, said, “We are pleased to report strong operational metrics within the portfolio. Weighted average lease term of 6.38 years by net lettable area and strong full occupancy are a testament to the capabilities of the team. We will continue to enhance our portfolio to provide stable and growing distributions for our unitholders.”

Proactive Portfolio Management

The Trustee-Manager is pleased to announce 100% occupancy in its portfolio, a testament to the robust retail scene in Zhongshan and the commercial manager’s leasing capabilities. The Trustee-Manager continues to attract quality tenants into the portfolio. The weighted lease to expiry remains healthy at 4.07 years (by total rental income) and 6.38 years (by net lettable area).

Inbuilt Potential for Growth with Strong Pipeline

Dasin Retail Trust has a pipeline of 20 Right-of-First Refusal (ROFR) completed and uncompleted assets from Sponsor, Zhongshan Dasin Real Estate Co. Ltd. This comprises 12 completed properties and eight properties under development as well as the Purchase Option for Doumen Metro Mall. These properties spanning the cities of the Pearl River Delta Region of Zhongshan, Zhuhai, Shunde and Macau.


Dasin Retail Trust is the only China retail property trust providing direct exposure to the fastgrowing Pearl River Delta region listed on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 20 January 2017. Dasin Retail Trust’s principal investment mandate is to invest in, own or develop land, uncompleted developments and income-producing real estate in Greater China (comprising People’s Republic of China (“PRC”), Hong Kong and Macau), used primarily for retail purposes, as well as real estate related assets, with an initial focus on retail malls. The portfolio of Dasin Retail Trust comprises four retail malls strategically located in Zhongshan City in PRC.

Dasin Retail Trust is managed by Dasin Retail Trust Management Pte. Ltd. (the “Trustee-Manager”). The Trustee-Manager’s key objectives are to provide unitholders of Dasin Retail Trust with an attractive rate of return on their investment through regular and stable distributions to Unitholders and to achieve long-term sustainable growth in DPU and net asset value per Unit, while maintaining an appropriate capital structure for Dasin Retail Trust.


Zhongshan Dasin Real Estate Co. Ltd. (the “Sponsor”) was established on 13 July 2001 in Zhongshan City, Guangdong Province, PRC. The Sponsor Group’s principal business is focused on the development and management of real estate, including the development and operation of retail malls, hotels, educational facilities and residential properties.

The Sponsor Group has mainly been involved in the construction and development of various real estate projects in the Pearl River Delta region. Over the past 17 years, the Sponsor has established itself as one of the leading developers in Zhongshan, winning a number of national-level industry awards.

For further information and enquiries, please contact:
Li Wen
Chief Executive Officer
Dasin Retail Trust Management Pte. Ltd.
Tel: +65 6509 8626 / (+86) 138 2391 0898
Email: liwen@dasintrust.com

Steven Ng
Chief Financial Officer
Dasin Retail Trust Management Pte. Ltd.
Tel: +65 6509 8626
Email: stevenng@dasintrust.com

Full press release (PDF): https://bit.ly/2OyvZoS 

Topic: Earnings
Sectors: Real EstateDaily News
From the Asia Corporate News Network 

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