To The Moon

$Keppel DC Reit(AJBU.SI)$ Basic Profile & Key Statistics Key Indicators Performance Highlight Gross revenue and NPI posted strong YoY growth, driven by contributions from: Acquisitions of Keppel DC Singapore 7 & 8 and Tokyo Data Centre 1 Higher variable rents from contract renewals and rental escalations Finance income also rose, mainly from the Australia Data Centre Note, while finance costs declined due to lower interest rates and loan repayments. These factors led to a significant increase in distributable income. Albeit, DPU rose to a lesser extent (+12.8%) due to a larger unitholder base. . Rental Reversion Keppel DC REIT recorded a strong portfolio rental reversion of ~51% for 1H 2025, largely due to major contract renewals. Acquisition KDC targets to acquire the remaining stake in Keppel DC Singapore 7 & 8 by 2H 2025. The trust currently owns 99.49% of both assets Divestment The divestment of Basis Bay Data Centre in Malaysia is expected to complete in 3Q 2025. Related Parties Shareholding REIT Sponsor's Shareholding: Less Favorable REIT Manager's Shareholding: Favorable Directors of REIT Manager's Shareholding: Less Favorable Lease Profile Committed Occupancy: Moderate Highest Annual Lease Expiry in 4 Years: Less Favorable WALE: Moderate Weighted Average Land Lease Expiry: Less Favorable Debt Profile Adjusted Interest Coverage Ratio: Favorable Cost of Debt: Favorable Gearing Ratio: Favorable Fixed Rate Debt Proportion: Moderate Unsecured Debt Proportion: Favorable Highest Annual Debt Maturity in 4 Years: Moderate WADM: Moderate Diversification Profile Top Geographical Weightage: Moderate Top Property Weightage: Favorable Top 5 Properties' Weightage: Moderate Top Tenant Weightage: Moderate Top 10 Tenants' Weightage: Less Favorable Key Financial Metrics Property Yield: Favorable Manager's Fees over Operating Distributable Income: Moderate Operating Distributable Income on Capital: Favorable Operating Distributable Income Margin: Favorable Operating Distribution Proportion: Favorable DPU Breakdown TTM Distribution Breakdown:86.6% from Operation3.2% from Management Fees Paid in Units3% from Income Support7.2% being Retained Trends (Up to 10 Years) Uptrend: DPU from Operations, NAV per Unit, Committed Occupancy Slight Uptrend: None Flat: Top 10 Tenants' Weightage, Operating Distributable Income Margin, Operating Distribution Proportion Slight Downtrend: None Downtrend: Adjusted Interest Coverage Ratio, Top 5 Properties' Weightage, Property Yield, Operating Distributable Income over Manager's Fees, Operating Distributable Income on Capital Price Range & Relative Valuation Metrics Dividend Yield: Average for 1y, 5y & 10y; Below -1SD for 3y P/NAV: Average for 1y, 3y, 5y & 10y Author's Opinion Compared to the previous half-year, overall performance has improved, underpinned by recent acquisitions and strong portfolio reversion. On the debt front, all refinancing for 2025 has been completed, no refinancing is due for the rest of the year. For more information, check out REIT-TIREMENT *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 own findings and should not be considered as 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 decision.