First REIT Reports Income Decline Amid Currency Challenges

First Real Estate Investment (SG:AW9U) has released an update.

First Real Estate Investment Trust has reported a 5.3% decline in rental and other income to S$77 million for the first nine months of 2024, impacted by currency depreciation of the Japanese Yen and Indonesian Rupiah against the Singapore Dollar. Despite the challenges, the Trust managed to maintain a distribution per unit of 1.78 Singapore cents for the period. Investors might find reassurance in the higher rental income from Indonesia and Singapore properties in local currency terms.

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