CapitaLand Ascott Trust (CLAS) has reported its full year (FY) 2025 financial results. Net asset value per stapled security stood at SGD 1.17 as at 31 December 2025. The trust recorded a fair value gain of SGD 98.5 million, mainly attributed to stronger operating performance in key markets including Japan, France, and Australia. CLAS maintained a gearing ratio of 37.7 percent, with total available funds comprising approximately SGD 614 million in cash on hand and SGD 1.04 billion in available credit facilities as at the end of the period. The trust reported an interest cover of 3.0 times and a low effective borrowing cost of 2.9 percent per annum. Approximately 48 percent of total assets are hedged in foreign currency, resulting in a zero percent impact from foreign exchange movements after hedges on gross profit for FY 2025. CLAS continues to hold a Fitch Ratings credit rating of BBB with a stable outlook and 68 percent of its property value remains unencumbered.

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