Home Investment Keppel DC REIT’s 2H FY24 Result Review

Keppel DC REIT’s 2H FY24 Result Review

by Deidre Salcido
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Basic Profile & Key Statistics

Key Indicators

Performance Highlight

KDC reported an improvement in gross revenue and NPI YoY, driven by the stronger performance of Keppel DC REIT’s existing portfolio and the contribution from the newly acquired Tokyo DC 1. Coupled with the $5.6 million distribution from the DXC settlement sum, both distributable income and DPU saw significant increases.

Acquisition

On 27 December 2024, Keppel DC REIT completed the acquisition of KDC SGP 7 & 8, further strengthening its portfolio in Singapore.

Divestment

On 2 January 2025, Keppel DC REIT announced the divestment of the Basis Bay Data Centre in Malaysia. The divestment is expected to be completed around 3Q 2025.

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Related Parties Shareholding

REIT Sponsor’s Shareholding: Less FavorableREIT Manager’s Shareholding: ModerateDirectors of REIT Manager’s Shareholding: Less Favorable

Lease Profile

Committed Occupancy: ModerateHighest Annual Lease Expiry in 4 Years: FavorableWALE: ModerateWeighted Average Land Lease Expiry: Less Favorable

Debt Profile

Adjusted Interest Coverage Ratio: FavorableCost of Debt: FavorableGearing Ratio:



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