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AIMS AMP Capital Industrial REIT reported an 11.6 percent year-on-year increase in gross revenue to $27.4 million in 1Q15, mainly due to rental contribution from the phase two development of 20 Gul Way and higher income from 56 Serangoon North Avenue 4 due to the increase in occupancy rates. Coupled with a decrease in property operating expenses and a substantial contribution from share of joint venture[euro](TM)s results, distribution to unitholders rose 26.9 percent to $15.8 million and distribution per unit was 2 percent higher at $0.0255.
P99 Holdings has entered into a 60:40 joint venture with a London-based property developer Verto Group Enterprise with a paid-up capital of $1.1 million. VGEL specialises in building eco homes in the UK. Further details will only be announced upon signing of the memorandum of understanding between the two companies.
SATS[euro](TM) indirect wholly-owned subsidiary, Primary...