Keppel REIT has said that its total revenue has fallen 1 per cent during the first quarter of the year to S$46.8 million due to a smaller contribution from its operations in Australia.
On the other hand, NPI recorded a growth of 6 per cent to S$39.5 million on a quarter to quarter basis. The earnings improved mainly due to a stronger contribution from Ocean Financial Centre (OFC). The company's distributable income remained the same on a quarter to quarter level. The NPI was smaller due to lower rental support and higher amortization expense.