First Real Estate Investment Trust reported group unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the fourth quarter, gross revenue was SGD 28,551,000 compared to SGD 26,988,000 a year ago. Net property income was SGD 27,990,000 compared to SGD 26,686,000 a year ago. Total return before income tax was SGD 33,089,000 compared to SGD 10,274,000 a year ago. Total return for the period after income tax attributable to the unitholders was SGD 25,356,000 compared to loss of SGD 1,408,000 a year ago. Net cash flows from operating activities were SGD 22,213,000 against SGD 18,482,000 a year ago. Basic and fully diluted basis earnings per unit in cents attributable to unitholders were 3.26 cents compared to loss per share of 0.18 cents a year ago. Total return after tax increased as compared to fourth quarter of 2016, mainly due to the fair value gains on revaluation of investment properties. For full year, gross revenue was SGD 110,993,000 compared to SGD 107,017,000 a year ago. Net property income was SGD 109,476,000 compared to SGD 105,835,000 a year ago. Total return before income tax was SGD 93,558,000 compared to SGD 64,246,000 a year ago. Total return for the period after income tax attributable to the unitholders was SGD 70,030,000 compared to SGD 38,688,000 a year ago. Net cash flows from operating activities were SGD 72,373,000 compared to SGD 81,456,000 a year ago. Basic and fully diluted basis earnings per unit in cents attributable to unitholders were 9.02 cents compared to 5.04 cents a year ago. Net asset value per unit as at December 31, 2017 was 101.47 cents against 100.79 cents as on December 31, 2017. Gross revenue increased by 3.7% to SGD 111.0 million compared to 2016, mainly due to contribution from SHLB, SHBN and SHYG as well as from existing properties. Total return after tax for fiscal year 2017 increased by 82.0% to SGD 73.4 million compared to 2016, mainly due to the fair value gain on revaluation of investment properties as well as lower net losses in fair value of derivative financial instruments.