Affected by foreign currency depreciation, CapLand Ascott T's half-year dividend payout decreased by 1% year-on-year

Zhang Ruling also mentioned that the trust added two new hotels in Japan in the first half of this year while divesting assets located in Tianjin, China. The trust will distribute dividends on August 29, with the unit registration deadline set for August 6. The latest performance announced by the trust before the market opened on Tuesday (July 29) showed that for the first half of the year ending June 30, the trust's total gross profit increased by 6% year-on-year to HKD 182.5 million; revenue rose by 3% to HKD 398.5 million; and revenue per available unit (RevPAU) was HKD 150, a year-on-year increase of 3%. Zhang Ruling also remains cautiously optimistic about the trust's investment portfolio. She pointed out that the full-year distributable income per unit, calculated in Singapore dollars, is expected to remain flat compared to last year. Extended Reading The trust's leverage ratio is 39.6%, below the Monetary Authority of Singapore's stipulated REIT total leverage ratio limit of 50%. Additionally, the trust has approximately HKD 1.46 billion in cash and available credit facilities. In terms of asset value, as of June 30, the living sector projects, including student dormitories and rental residences, accounted for 17% of the portfolio, while the remaining 83% consisted of hotel projects, primarily serviced apartments. The trust completed six asset enhancement initiatives (AEI) last year, including the luxury hotel The Robertson House located at Robertston Quay, as well as assets located in Paris, Berlin, London, and Dublin. Zhang Ruling stated that there are three more enhancement plans upcoming, specifically for hotel assets in Seoul, Paris, and Osaka. CapitaLand Ascott Trust's distribution per stapled security (DPS) for the first half of the year was 2.53 cents, a slight decrease of 1% year-on-year. CapitaLand Ascott Trust's CEO Zhang Ruling pointed out that the trust's core earnings are robust, and the negative impact actually comes from foreign currency depreciation. "Whether it is the asset enhancement projects completed last year or this year, or those expected to be completed, they will contribute positively to our short to medium-term growth." Added Two Hotels in Japan with Multiple Asset Enhancement Plans Ahead Zhang Ruling stated at the earnings announcement that the overall trust investment portfolio demonstrates resilience. However, some foreign currency depreciation has negatively impacted the dividends. Excluding lower-level non-cyclical projects, the trust's adjusted core distribution per unit for the first half of the year was 2.40 cents, compared to 2.41 cents in the same period last year. The total distribution amount for the first half was HKD 96.5 million, consistent with the same period last year. CapitaLand Ascott Trust closed at HKD 0.91 on Tuesday, up from HKD 0.55