{"id":2378,"date":"2025-10-06T01:14:00","date_gmt":"2025-10-06T01:14:00","guid":{"rendered":"https:\/\/igorsplayground.com\/appcheckr\/sasseur-reits-1h-fy25-result-review-reit-tirement\/"},"modified":"2025-10-06T01:14:00","modified_gmt":"2025-10-06T01:14:00","slug":"sasseur-reits-1h-fy25-result-review-reit-tirement","status":"publish","type":"post","link":"https:\/\/igorsplayground.com\/appcheckr\/sasseur-reits-1h-fy25-result-review-reit-tirement\/","title":{"rendered":"Sasseur REIT&#8217;s 1H FY25 Result Review &#8211; REIT-TIREMENT"},"content":{"rendered":"<p><\/p>\n<div id=\"post-body-1293379990221784545\" itemprop=\"articleBody\">\n<meta content=\"Basic Profile &amp; Key Statistics\" name=\"twitter:description\"\/><\/p>\n<div id=\"adsense-target\">\n<p style=\"clear:both\"><b><span style=\"font-size:large\">Basic Profile &amp; Key Statistics<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n        <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjwMnKxwjNeEKPrNpNZeMY5cj0XcSJTddt37Krmf6SKlmRTaZ40d8-4-iHHPpELdDi06B85MCBhETZCII6BZnERgmcU5fzoi1wwTAHWAapB0tr8FDR91Z7NukxwR1kAgd6RfHjx_eiSxFBCDUe5olWUyvNu0koCiXA113GHx9Qb4A-THZLr-M73CNwKalyU\/s1157\/SASSEUR-BASIC.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n            <img decoding=\"async\" border=\"0\" data-original-height=\"1157\" data-original-width=\"1130\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjwMnKxwjNeEKPrNpNZeMY5cj0XcSJTddt37Krmf6SKlmRTaZ40d8-4-iHHPpELdDi06B85MCBhETZCII6BZnERgmcU5fzoi1wwTAHWAapB0tr8FDR91Z7NukxwR1kAgd6RfHjx_eiSxFBCDUe5olWUyvNu0koCiXA113GHx9Qb4A-THZLr-M73CNwKalyU\/s16000-rw\/SASSEUR-BASIC.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<p>    <a name=\"more\"\/><\/p>\n<p><b><span style=\"font-size:large\">Key Indicators<\/span><\/b><\/p>\n<div class=\"separator\" style=\"clear:both\">\n<div style=\"text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjIX-7gS_cDc0w3kuZ6ageOjyxL2-Lgybl5P3mk7_lqQbw_t2LjkCiU8DcOF3kvFtMsDSjYHplKpWAApW-0kYrbDlwhssaDP5uBLmMDLzgYo3D1QT3ZGYW1dL2w_yXlkh561XCpQxDJ0tjJctiUg97pdqhXdwBDr7CFf5eQCYjgi0pgRYcrD0B9UPpCcDCQ\/s1125\/SASSEUR-INDICATOR.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1032\" data-original-width=\"1125\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjIX-7gS_cDc0w3kuZ6ageOjyxL2-Lgybl5P3mk7_lqQbw_t2LjkCiU8DcOF3kvFtMsDSjYHplKpWAApW-0kYrbDlwhssaDP5uBLmMDLzgYo3D1QT3ZGYW1dL2w_yXlkh561XCpQxDJ0tjJctiUg97pdqhXdwBDr7CFf5eQCYjgi0pgRYcrD0B9UPpCcDCQ\/s16000-rw\/SASSEUR-INDICATOR.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<p style=\"clear:both\"><b><span style=\"font-size:large\">Performance Highlight<\/span><\/b><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjGbc5Ld6_WPBu5zXTmBkG1ydkyLnphvfa2wmGt-eY0uSMFKDXzd6MkCP1vxxpBTn1SzPTbGobjfSz8Ss5NJYy6roHMEitzL5FFIFMuJN0ZZRbQSXJm3SEdd1dJAhiK_91hYz3Tc-R1bDZVIYWCOC0fDzFb-F7WNBtglVUQlz6bvzb3scVquxLn41mghTf1\/s1278\/SASSEUR-PERFORMANCE.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"681\" data-original-width=\"1278\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjGbc5Ld6_WPBu5zXTmBkG1ydkyLnphvfa2wmGt-eY0uSMFKDXzd6MkCP1vxxpBTn1SzPTbGobjfSz8Ss5NJYy6roHMEitzL5FFIFMuJN0ZZRbQSXJm3SEdd1dJAhiK_91hYz3Tc-R1bDZVIYWCOC0fDzFb-F7WNBtglVUQlz6bvzb3scVquxLn41mghTf1\/s16000-rw\/SASSEUR-PERFORMANCE.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<div class=\"separator\" style=\"clear:both\">\n<p>In SGD terms, EMA rental income has seen a slight year-on-year reduction due to the depreciation of the RMB against the SGD. Despite this, the distributable income to unitholders remains stable, attributed to lower finance expenses and higher exchange gains, although this is offset by a decrease in management fees payable in units. However, the Distribution Per Unit (DPU) has declined due to a higher amount retained.<\/p>\n<div class=\"separator\" style=\"clear:both\">\n<p style=\"clear:both\"><b><span style=\"font-size:large\">Sales<\/span><\/b><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n                    <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEh8nctRIPJDyTHFPr8Fj43bluum1IRk7TOn0OS_hnXssdc2W-F_-1YMkrBuJgvSledeMfFT38N5NaBvuhpbjFiLm2X8QClRLxU-AYiL1aZFysQenSLHYLdyZncN-_nS_XRihkB5QqMtXgltIGjXgApMNRdOVJ0h34S9NNuWk4vd6XZnI61wN8mWZSg4dPZI\/s1851\/SASSEUR-SALES.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                        <img decoding=\"async\" border=\"0\" data-original-height=\"472\" data-original-width=\"1851\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEh8nctRIPJDyTHFPr8Fj43bluum1IRk7TOn0OS_hnXssdc2W-F_-1YMkrBuJgvSledeMfFT38N5NaBvuhpbjFiLm2X8QClRLxU-AYiL1aZFysQenSLHYLdyZncN-_nS_XRihkB5QqMtXgltIGjXgApMNRdOVJ0h34S9NNuWk4vd6XZnI61wN8mWZSg4dPZI\/s16000-rw\/SASSEUR-SALES.png\"\/><br \/>\n                    <\/a>\n                <\/div>\n<p>For the first half of FY25, portfolio sales increased by 0.8% year-on-year, primarily driven by growth in Chongqing Liangjiang and Hefei.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<div class=\"separator\" style=\"clear:both\">\n<p><b><span style=\"font-size:large\">Related Parties Shareholding<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n                <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjgDmU40sF673siHMUg71v0j6UP7_A0lZWFG-1_xv31RQsJaAe9VF8kh7D1cJAM2I5WqRlBgDG1FrJs0PynKs0_F9p6EWW3RKjhh3v_ktFb5Q0XsWSWf6ycpdxoNnZGt8y3q_K8crRlIU0D9LbVUev0AOsB_4sU6zKbAIvM-dyh4jsv4Q2Xc-avGU6sCmL7\/s1120\/SASSEUR-SHARE.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                    <img decoding=\"async\" border=\"0\" data-original-height=\"322\" data-original-width=\"1120\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjgDmU40sF673siHMUg71v0j6UP7_A0lZWFG-1_xv31RQsJaAe9VF8kh7D1cJAM2I5WqRlBgDG1FrJs0PynKs0_F9p6EWW3RKjhh3v_ktFb5Q0XsWSWf6ycpdxoNnZGt8y3q_K8crRlIU0D9LbVUev0AOsB_4sU6zKbAIvM-dyh4jsv4Q2Xc-avGU6sCmL7\/s16000-rw\/SASSEUR-SHARE.png\"\/><br \/>\n                <\/a>\n            <\/div>\n<ul>\n<li>REIT Sponsor&#8217;s Shareholding: Favorable<\/li>\n<li>REIT Manager&#8217;s Shareholding: Favorable<\/li>\n<li>Directors of REIT Manager&#8217;s Shareholding: Favorable<\/li>\n<\/ul><\/div>\n<div class=\"separator\" style=\"clear:both\">\n<p><b><span style=\"font-size:large\">Lease Profile<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n                <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgY_ko0msRvmqVUa1OnRSma7lYuS5Wzfx0K5aOFsIhZi6b4gN2HmXmDq654c53CdiIMb3swuNpYxaERNXaGf_FomHiT2PU0rE-_W-9fvRx2XwmN6DQTKwn4vI0f50zlK03EdHdhpIanD_2uqQ6xamtemD5rCwC6wk5Y4NE7iO2z7rDJDzNnfkjlw5DbMWLJ\/s1127\/SASSEUR-LEASE.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                    <img decoding=\"async\" border=\"0\" data-original-height=\"525\" data-original-width=\"1127\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgY_ko0msRvmqVUa1OnRSma7lYuS5Wzfx0K5aOFsIhZi6b4gN2HmXmDq654c53CdiIMb3swuNpYxaERNXaGf_FomHiT2PU0rE-_W-9fvRx2XwmN6DQTKwn4vI0f50zlK03EdHdhpIanD_2uqQ6xamtemD5rCwC6wk5Y4NE7iO2z7rDJDzNnfkjlw5DbMWLJ\/s16000-rw\/SASSEUR-LEASE.png\"\/><br \/>\n                <\/a>\n            <\/div>\n<ul>\n<li>Committed Occupancy: Favorable<\/li>\n<li>Income Received in SGD\/Major Currencies: Less Favorable<\/li>\n<li>Highest Annual Lease Expiry in 4 Years: Less Favorable<\/li>\n<li>WALE: Less Favorable<\/li>\n<li>Weighted Average Land Lease Expiry: Less Favorable<\/li>\n<\/ul><\/div>\n<div>\n<p><b><span style=\"font-size:large\">Debt Profile<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n                <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjKWy1TL2TZpmGPKR80VXkZwbz6dF0rVNGlz7K_HgfOTfSoR_uFsOBJPImDIoxBqOYP3eL9E1cPZHBesau4DolvKka4cjxVcYq5vWfadBr8RTYP0N0uRAyVi4jPO9h6776aXXSSskDW9x1psgrWxAAX8wxJfPy6o_vKxZ-Km5v00PsYeYPrs1hQDpFuJosS\/s1125\/SASSEUR-DEBT.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                    <img decoding=\"async\" border=\"0\" data-original-height=\"590\" data-original-width=\"1125\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjKWy1TL2TZpmGPKR80VXkZwbz6dF0rVNGlz7K_HgfOTfSoR_uFsOBJPImDIoxBqOYP3eL9E1cPZHBesau4DolvKka4cjxVcYq5vWfadBr8RTYP0N0uRAyVi4jPO9h6776aXXSSskDW9x1psgrWxAAX8wxJfPy6o_vKxZ-Km5v00PsYeYPrs1hQDpFuJosS\/s16000-rw\/SASSEUR-DEBT.png\"\/><br \/>\n                <\/a>\n            <\/div>\n<ul>\n<li>Adjusted Interest Coverage Ratio: Favorable<\/li>\n<li>Cost of Debt: Less Favorable<\/li>\n<li>Gearing Ratio: Favorable<\/li>\n<li>Fixed Rate Debt Proportion: Favorable<\/li>\n<li>Unsecured Debt Proportion: Less Favorable<\/li>\n<li>Highest Annual Debt Maturity in 4 Years: Less Favorable<\/li>\n<li>WADM: Favorable<\/li>\n<\/ul><\/div>\n<div>\n<p><b><span style=\"font-size:large\">Diversification Profile<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n                <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgjS0V-Hr5x-niyAcSBGRzIL38RcD5n7JTJThHp9EEfRshUt1xZ2RjTMHaPENZidMPM0ThrdzGLk5LEAG2LrwX8JtzIGhoCXpX1zS_uC9SlZx8R3tX1ix-Otc5UfAYYfU0VQujRIeckFuL49L-92hlQoGCiCOdddKzlRMkY3MWnP5w-pZnlSQUje3ILoGfs\/s1130\/SASSEUR-DIVERSIFICATION.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                    <img decoding=\"async\" border=\"0\" data-original-height=\"1057\" data-original-width=\"1130\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgjS0V-Hr5x-niyAcSBGRzIL38RcD5n7JTJThHp9EEfRshUt1xZ2RjTMHaPENZidMPM0ThrdzGLk5LEAG2LrwX8JtzIGhoCXpX1zS_uC9SlZx8R3tX1ix-Otc5UfAYYfU0VQujRIeckFuL49L-92hlQoGCiCOdddKzlRMkY3MWnP5w-pZnlSQUje3ILoGfs\/s16000-rw\/SASSEUR-DIVERSIFICATION.png\"\/><br \/>\n                <\/a>\n            <\/div>\n<ul>\n<li>Top Geographical Weightage: Moderate<\/li>\n<li>Top Property Weightage: Moderate<\/li>\n<li>Top 5 Properties&#8217; Weightage: Less Favorable<\/li>\n<li>Top Tenant Weightage: Moderate<\/li>\n<li>Top 10 Tenants&#8217; Weightage: Favorable<\/li>\n<\/ul><\/div>\n<p><b><span style=\"font-size:large\">Key Financial Metrics<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgprXHxVfWOHNaNq800QS76GlDU8h1j_XbiTI4J2G57qp4dRzAm_UhHa0T8lYpZaUy7W4pEAG5UGkU1qYbMOkoeaKG9qVEiWJMheC0JgHGW8RcHTy-qx_yHanKjRf40Bsoq_RIXUMFiyBSAeV7xhc7k8OanJ7a_JWvw1MFefVEhekOUBkAqaKNG_nNxKqgK\/s1122\/SASSEUR-METRICS.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"422\" data-original-width=\"1122\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgprXHxVfWOHNaNq800QS76GlDU8h1j_XbiTI4J2G57qp4dRzAm_UhHa0T8lYpZaUy7W4pEAG5UGkU1qYbMOkoeaKG9qVEiWJMheC0JgHGW8RcHTy-qx_yHanKjRf40Bsoq_RIXUMFiyBSAeV7xhc7k8OanJ7a_JWvw1MFefVEhekOUBkAqaKNG_nNxKqgK\/s16000-rw\/SASSEUR-METRICS.png\"\/><br \/>\n            <\/a><\/p>\n<ul>\n<li>Property Yield: Favorable<\/li>\n<li>Manager&#8217;s Fees over Operating Distributable Income: Favorable<\/li>\n<li>Operating Distributable Income on Capital: Favorable<\/li>\n<li>Operating Distributable Income Margin: Favorable<\/li>\n<li>Operating Distribution Proportion: Favorable<\/li>\n<\/ul><\/div>\n<p><b><span style=\"font-size:large\">DPU Breakdown<\/span><\/b><\/p>\n<div style=\"text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi65CyW8olYAoDmXRZZDPLP4aSvGpH6FfIrP2jOLmxrsFjJ5y04HnjOv_NenAFo8c6hpQuH17BCG_Z-VQPQtH1sz3WjlzSGx1m1BoofVUoYOoRwep2jc25xfUJYhzEOyQvJgYckWd4VVXUfgzyiLBJX5LpEhqXvcLB7p39aQGRV7tOk29qYnx0Ew3kt3VfD\/s1127\/SASSEUR-DPU.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"925\" data-original-width=\"1127\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi65CyW8olYAoDmXRZZDPLP4aSvGpH6FfIrP2jOLmxrsFjJ5y04HnjOv_NenAFo8c6hpQuH17BCG_Z-VQPQtH1sz3WjlzSGx1m1BoofVUoYOoRwep2jc25xfUJYhzEOyQvJgYckWd4VVXUfgzyiLBJX5LpEhqXvcLB7p39aQGRV7tOk29qYnx0Ew3kt3VfD\/s16000-rw\/SASSEUR-DPU.png\"\/><br \/>\n            <\/a><\/p>\n<ul>\n<li>TTM Distribution Breakdown:\n<ul>\n<li>82.8% from Operation<\/li>\n<li>7.5% from Management Fees Paid in Units<\/li>\n<li>9.7% being Retained<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div>\n<p><b><span style=\"font-size:large\">Trends (Up to 10 Years)<\/span><\/b><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiHXqomNKwzuCgyP0TX4JrpwHhhlDgmpyT3BqdlHtvMlZnX3YI81pzvmJea3cSiqNGcxz5cNZQvLnwRgZl7Lxynx-xq4tjPnlicRDQWSOvxWaQCVZ3PIbsaV9OioWn4bTyKk4hf5YaLgGhyMLrIgOcXInMDz0emci32mUbnXgngvw7P8Vltqi1g4Iv0Nyt5\/s1761\/SASSEUR-TREND1.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1761\" data-original-width=\"1130\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiHXqomNKwzuCgyP0TX4JrpwHhhlDgmpyT3BqdlHtvMlZnX3YI81pzvmJea3cSiqNGcxz5cNZQvLnwRgZl7Lxynx-xq4tjPnlicRDQWSOvxWaQCVZ3PIbsaV9OioWn4bTyKk4hf5YaLgGhyMLrIgOcXInMDz0emci32mUbnXgngvw7P8Vltqi1g4Iv0Nyt5\/s16000-rw\/SASSEUR-TREND1.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<p><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgyHNtbpr9g9YotifJ8nQxJbVMe4qR718On7KP5yZKOZFC6MMKQt4mVjSdB63MM3NHMeQhcnVPoWMITXckMW-OBYCyVlJPqV7BRvI3MzkKBuhVJIIDUq-MxE3_6NFiDGHbjI1zc_OCgJXsBMTKWs3HK9G-UH6WdQT3jN_Ma_GN_wokHoXQZ478hBmq_WIWn\/s1761\/SASSEUR-TREND2.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1761\" data-original-width=\"1129\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgyHNtbpr9g9YotifJ8nQxJbVMe4qR718On7KP5yZKOZFC6MMKQt4mVjSdB63MM3NHMeQhcnVPoWMITXckMW-OBYCyVlJPqV7BRvI3MzkKBuhVJIIDUq-MxE3_6NFiDGHbjI1zc_OCgJXsBMTKWs3HK9G-UH6WdQT3jN_Ma_GN_wokHoXQZ478hBmq_WIWn\/s16000-rw\/SASSEUR-TREND2.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<p><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhNHxzLGT4VsHfTE54w7apVhlmNDo2Pt9r8YuaGHJVwzl3_OuWMrzFzWF9ovhYUYRQuf58FnYkEw56Z6vlvMJZsBo2jWh9ktK9ywtQTMUwsPqH24Vo_wJX261iQQQdzgEIX9__U9zOYzSGauIEcAo_gCOI11W6IYAykL93JC1bbwVQgmzEY4Mg18raxu6tx\/s1726\/SASSEUR-TREND3.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1726\" data-original-width=\"1129\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhNHxzLGT4VsHfTE54w7apVhlmNDo2Pt9r8YuaGHJVwzl3_OuWMrzFzWF9ovhYUYRQuf58FnYkEw56Z6vlvMJZsBo2jWh9ktK9ywtQTMUwsPqH24Vo_wJX261iQQQdzgEIX9__U9zOYzSGauIEcAo_gCOI11W6IYAykL93JC1bbwVQgmzEY4Mg18raxu6tx\/s16000-rw\/SASSEUR-TREND3.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<ul>\n<li>Uptrend: Committed Occupancy, Adjusted Interest Coverage Ratio, Operating Distributable Income on Capital, Operating Distributable Income Margin, Operating Distribution Proportion<\/li>\n<li>Slight Uptrend: DPU from Operations<\/li>\n<li>Flat: NAV per Unit, Top 5 Properties&#8217; Weightage, Property Yield, Operating Distributable Income over Manager&#8217;s Fees<\/li>\n<li>Downtrend: Top 10 Tenants&#8217; Weightage<\/li>\n<\/ul>\n<p><b><span style=\"font-size:large\">Price Range &amp; Relative Valuation Metrics<\/span><\/b><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgA_FmfcLgwKFgeikCZmRwm0qSX_Nsci0-IC3iBaiFln0I1iajl5hm6beDf6cvjNhv6wLxpq5oT61dZOYe72Hezt63eRcXuC9W7JrMqlN6_Pt9JmW062Yw66AkNy5MIfL2uYUKUzpSPsSuv2oapweg9MbAlgkDr64NhQqOZZr78neE9RzxSHE95HYgpxBQX\/s1304\/SASSEUR-PRICE.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1304\" data-original-width=\"1128\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgA_FmfcLgwKFgeikCZmRwm0qSX_Nsci0-IC3iBaiFln0I1iajl5hm6beDf6cvjNhv6wLxpq5oT61dZOYe72Hezt63eRcXuC9W7JrMqlN6_Pt9JmW062Yw66AkNy5MIfL2uYUKUzpSPsSuv2oapweg9MbAlgkDr64NhQqOZZr78neE9RzxSHE95HYgpxBQX\/s16000-rw\/SASSEUR-PRICE.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<p><\/p>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiZAaucpJQzEHqgek_i9Ef7xvhPdJSUiO4BNDVDxmLu70XNsPZadLZvFLSICMkCuuFib7o4cD1fjbqZhcgzHmY_KzHnf15TQEjOz9GGpJ6Uc1IAx5r5YcaRaZwtbowQ9dV0eHC6ZL9fly8reWcg8-rraabZdcrDo5j_XUvtaguytaGHSc_ErSEvziOdRtIh\/s1972\/SASSEUR-YIELD.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1972\" data-original-width=\"1128\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEiZAaucpJQzEHqgek_i9Ef7xvhPdJSUiO4BNDVDxmLu70XNsPZadLZvFLSICMkCuuFib7o4cD1fjbqZhcgzHmY_KzHnf15TQEjOz9GGpJ6Uc1IAx5r5YcaRaZwtbowQ9dV0eHC6ZL9fly8reWcg8-rraabZdcrDo5j_XUvtaguytaGHSc_ErSEvziOdRtIh\/s16000-rw\/SASSEUR-YIELD.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<div class=\"separator\" style=\"clear:both;text-align:center\">\n            <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjq4hlV84UBxDqQQ3V7qm5B94kkRSTMgQ177aFvHGMSB23ZXIPYT8LY7r7h1sREkYyw54jyNvA8220bSpQNMZyG3K9b1WWA0nnl6MPn63R-dr_FzXv7IFUGpGDpOfKZWhuYRh4F0iWxjwIhA7-UGC_4501kTLi1hxXmaj4eL0hyVRyZfJuDHVSAmhFY-6N5\/s1971\/SASSEUR-PNAV.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n                <img decoding=\"async\" border=\"0\" data-original-height=\"1971\" data-original-width=\"1128\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjq4hlV84UBxDqQQ3V7qm5B94kkRSTMgQ177aFvHGMSB23ZXIPYT8LY7r7h1sREkYyw54jyNvA8220bSpQNMZyG3K9b1WWA0nnl6MPn63R-dr_FzXv7IFUGpGDpOfKZWhuYRh4F0iWxjwIhA7-UGC_4501kTLi1hxXmaj4eL0hyVRyZfJuDHVSAmhFY-6N5\/s16000-rw\/SASSEUR-PNAV.png\"\/><br \/>\n            <\/a>\n        <\/div>\n<ul>\n<li>Dividend Yield: Average for 1y &amp; 3y &amp; 5y &amp; 10y<\/li>\n<li>P\/NAV: Above +2SD for 1y; Above +1SD for 3y; Average for 5y &amp; 10y<\/li>\n<\/ul><\/div>\n<div style=\"text-align:center\">\n        <a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjOKFRDpWN5OBkthZeS4Lu-yrLQyC8z7OtQughfh4fLI2ZeIjsn3ogkMQF747HV2AKOB0HnK2qeTvUpkIc8XfZwGco3pNBhooKfYo5e0T_xy8NRjzjHz4jFk2hLl8Hxtkj69MTXHwJqjIoVxd74eKVg8SE3Am4jgoVW_suS_dYeV0n5HQP4t8p39wNcKS0i\/s1337\/SASSEUR-OPINION.png\" style=\"margin-left:1em;margin-right:1em\"><br \/>\n            <img decoding=\"async\" border=\"0\" data-original-height=\"878\" data-original-width=\"1337\" loading=\"lazy\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEjOKFRDpWN5OBkthZeS4Lu-yrLQyC8z7OtQughfh4fLI2ZeIjsn3ogkMQF747HV2AKOB0HnK2qeTvUpkIc8XfZwGco3pNBhooKfYo5e0T_xy8NRjzjHz4jFk2hLl8Hxtkj69MTXHwJqjIoVxd74eKVg8SE3Am4jgoVW_suS_dYeV0n5HQP4t8p39wNcKS0i\/s16000-rw\/SASSEUR-OPINION.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div style=\"text-align:center\">\n<p>Compared to the previous half-year, EMA rental income has declined slightly. However, distributable income and DPU have improved, mainly due to higher exchange gains and lower tax expenses. On the debt front, there is no refinancing requirement for the remainder of 2025.<\/p>\n<\/p><\/div>\n<div>\n<div>\n<p>For more information, check out:<\/p>\n<\/p><\/div>\n<div>\n<p><a href=\"https:\/\/www.reit-tirement.com\/p\/sreits-dashboard.html\" target=\"_blank\">S-REITs Dashboard<\/a> &#8211; Detailed information on individual Singapore REIT<\/p>\n<p><a href=\"https:\/\/www.reit-tirement.com\/p\/sreit-data.html\" target=\"_blank\">S-REITs Data<\/a> &#8211; Overview and detail of Singapore REITs<\/p>\n<p><a href=\"https:\/\/www.reit-tirement.com\/p\/s-reits-comparison.html\" target=\"_blank\">S-REIT Comparison<\/a> &#8211; Comparison among Singapore REITs<\/p>\n<p><a href=\"https:\/\/www.reit-tirement.com\/p\/reits-analysis.html\" target=\"_blank\">REIT Review<\/a> &#8211; List of previous REIT review posts<\/p>\n<p>To support my work, check out:<\/p>\n<p><a href=\"https:\/\/www.patreon.com\/reit_tirement\" target=\"_blank\">Patreon<\/a> &#8211; Subscribe and get exclusive content<\/p>\n<p><a href=\"https:\/\/www.investingnote.com\/settings\/profile\" target=\"_blank\">Investing Note<\/a> &#8211; Support by following my Investing Note profile<\/p>\n<p><a href=\"https:\/\/www.facebook.com\/reit.tirement\" target=\"_blank\">Facebook Page<\/a> &#8211; Support by liking my Facebook Page<span>\u00a0 \u00a0\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/groups\/reit.tirement\" target=\"_blank\">Facebook Group &#8211; Passive Income Investing Community<\/a> &#8211; Join to share and discuss REITs<\/p>\n<p><a href=\"https:\/\/t.me\/reit_tirement\" target=\"_blank\">Telegram Channel &#8211; Singapore REITs Post<\/a> &#8211; Join to receive posts for Singapore REITs<\/p>\n<p><a href=\"https:\/\/www.buymeacoffee.com\/reits\" target=\"_blank\">Buy Me a Coffee<\/a> &#8211; Treat me a coffee for my efforts<\/p>\n<p>*Disclaimer: The information presented on this blog is for educational and informational purposes only. The materials, including research and opinions, are based solely on my findings and should not be considered professional financial advice or a definitive statement of fact. I cannot guarantee the accuracy, completeness, or reliability of the information provided. I shall not be held liable for any errors, omissions, or losses that may occur as a result of using the information presented on this blog. It should be noted that the information presented on this blog does not constitute a buy, sell, or hold recommendation for any security. It is crucial to conduct your own thorough research and due diligence before making any investment decisions.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Basic Profile &amp; Key Statistics Key Indicators Performance Highlight In SGD terms, EMA rental income has seen a slight year-on-year reduction due to the depreciation of the RMB against the SGD. Despite this, the distributable income to unitholders remains stable, attributed to lower finance expenses and higher exchange gains, although this is offset by a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2379,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":["post-2378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reits"],"_links":{"self":[{"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/posts\/2378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/comments?post=2378"}],"version-history":[{"count":0,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/posts\/2378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/media\/2379"}],"wp:attachment":[{"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/media?parent=2378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/categories?post=2378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/igorsplayground.com\/appcheckr\/wp-json\/wp\/v2\/tags?post=2378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}