M1 net profit after tax increased 2.8% to S$135 million

M1 Logo

SINGAPORE, 19 October 2015 – M1 Limited (M1) today announced the unaudited group financial results for the nine months ended 30 September 2015.

For the nine months ended 30 September 2015, net profit after tax increased 2.8% year-on-year to S$134.9 million, on the back of service revenue of S$613.1 million. Mobile data revenue rose 10.2% percentage points year-on-year to 44.7% of service revenue.

Fixed services revenue grew by 18.9% to S$61.1million for the nine months of 2015 and now accounts for 10.0% of service revenue. The growth was mainly driven by higher contribution from the corporate segment.

In the third quarter, M1 added 12,000 postpaid mobile customers. Total mobile base grew to 1.89 million as at 30 September 2015. Monthly postpaid churn remained stable quarter-on-quarter at 1.0%. M1 also added 6,500 fibre customers during the quarter to bring its base to 120,000.

During the quarter, M1 launched several innovative tariffs and services, such as M1 Data Passport, mySIM mobile plans and nationwide ultra high-speed fibre corporate connectivity of up to 10 Gbps.

“We will continue to innovate and invest to further enhance our value propositions and customer experience,” said Ms Kooi, Chief Executive Officer of M1.

Based on current economic outlook and barring unforeseen circumstances, we estimate low single digit growth in net profit after tax for the year 2015.

Keppel REIT announces DPU of 1.70 cents for 3Q2015

Keppel REIT 3Q2015


Keppel REIT is an office REIT with 88% of its portfolio is in Singapore and 12% in Australia.


  • Bugis Junction Towers
  • Marina Bay Financial Centre
  • One Raffles Quay
  • Ocean Financial Centre


  • 8 Chifley Square, Sydney
  • 77 King Street Office Tower, Sydney
  • 8 Exhibition Street, Melbourne
  • 275 George Street, Brisbane
  • Office Tower on the Old Treasury Building site, Perth

Results for 3Q2015

  • Recorded a 4.6% and 1.8% year‐on‐year (“y‐o‐y”) growth in distributable income for 3Q 2015 and year‐to‐date 2015 (“YTD 2015”) respectively, as well as sustained levels of distributable income on a quarter‐on‐quarter (“q‐o‐q”) basis
  • Higher distributable income was due mainly to better performance from Ocean Financial Centre, Bugis Junction Towers and 8 Chifley Square in Sydney
  • Distribution per unit (“DPU”) of 1.70 cents for the third quarter 2015 (“3Q 2015”)
  • Increased fixed‐rate loans to over 70%, which will insulate against interest rate fluctuations
  • Average cost of debt remained constant at 2.5% and interest coverage ratio at a healthy 4.4 times
  • Hedged almost 100% of distribution payment from Australia up till the first quarter of 2016 (“1Q 2016”)
  • Continued to maintain low refinancing obligations, with close to 100% of total borrowings not due for repayment till 2017
  • Concluded a total of 82 leases or approximately 1.1 million sf of office space to‐date
  • Of the new office leases secured in 3Q 2015, one‐third were from tenants setting up presence and operations in Singapore, one‐third were from first‐time entrants into Keppel REIT’s portfolio and the remaining one‐third were expansions by existing tenants
  • Notwithstanding the supply of office spaces from both upcoming and existing buildings, the Manager completed 100% of all leases due for review and almost all leases due for renewal in 2015. With this, approximately 70% of total leases are not due for renewal till 2018 and beyond
  • Despite challenging leasing market conditions, the Manager has achieved a positive rent reversion averaging 16% for office leases signed, renewed and reviewed year‐to‐date
  • Overall portfolio occupancy declined slightly q‐o‐q from 99.3% to  98.5%
  • Gained strategic control of the office and retail components at 8 Exhibition Street in Melbourne with the successful acquisition of the three remaining prime street‐fronting retails units
  • Achieved Certificate of Practical Completion for the office tower on the Old Treasury Building site in Perth, and the Government of Western Australia (WA) will commence its 25‐year long lease in the fourth quarter of 2015 (“4Q 2015”)