Gross Revenue for 1Q 2026 decline by 2.1% to 38.2m mainly due to JPY FX depreciation and lower rental income from the Japan portfolio
due to tenant exit affecting five Japan nursing home properties, partially offset by contributions from
the Singapore properties.
Higher distributable income largely attributed to Singapore hospitals following the cessation of the
three-year rent rebates and the rent review formula kicked in1. DPU is up 5% to 4.44 cents.
As the REIT has hedged the net income from Japan, the drop in revenue will be compensated by the
FX gains from the settlement of the forward contracts
DPU Growth Y-o-Y
S$38.2 million
Higher distributable income largely attributed to Singapore hospitals following the cessation of the
three-year rent rebates and the rent review formula kicked in1
As the REIT has hedged the net income from Japan, the drop in revenue will be compensated by the
FX gains from the settlement of the forward contracts.
Project Renaissance – a S$350 million renewal capital expenditure for MEH jointly funded with IHH
Healthcare Singapore was successfully completed in February 2026
➢ Delivered M&E upgrades, space reconfiguration and sustainability enhancements to support
resilience and growth
➢ Awarded provisional Green Mark Platinum certification by the Building and Construction Authority
in recognition of the sustainability enhancements
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