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SPH Reit grows Q1 distributable income by 3%

Its cutting of property operating expenses by 7 per cent helps lift net property income further

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Paragon in Orchard Road maintained full occupancy, as did SPH Reit's other mall, Clementi Mall. Paragon attained rental uplift of 4.4 per cent for new and renewed leases during the quarter.

Singapore

SINGAPORE-based mall investment trust SPH Reit posted a 3 per cent increase in distributable income for its first fiscal quarter as lower operating expenses uplifted a modest increase in revenue.

SPH Reit, whose sponsor, Singapore Press Holdings, owns The Business Times,

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