Ascendas India Trust (a-iTrust) said yesterday that distributable income for its third quarter ended Dec 31, 2008 rose 36 per cent to $15.3 million, from $11.3 million a year earlier. Distribution per unit (DPU) for Q3 rose 35 per cent to 2.02 cents. Distribution is semi-annual, so the Q3 distribution will be made with that of Q4. Including 3.47 cents already distributed for first-half FY 2008/09, the nine- month DPU comes to 5.49 cents. Total property income for Q3 was $28.8 million - 7 per cent higher than the $27 million figure the previous year - while net property income grew 9 per cent to $17 million, from $15.7 million. Property income grew on the back of higher occupancy and resilient rental rates. Expenses grew at a slower pace mainly due to the fall in oil prices. As a result, net property income rose. 'Notwithstanding current weak global economic conditions, a-iTrust's portfolio occupancy edged up to 99 per cent from an already high level,' said Jonathan Yap, chief executive of the trust's manager. 'Average portfolio rentals also improved since our last results announcement. These results demonstrate the portfolio's resilience and appropriateness of its positioning vis-a-vis the target customers.'