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Starhill Global Reit's Q4 revenue up by 3.6%

Friday, July 29, 2016 - 19:20
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STARHILL Global Reit Q4 revenues rose by 3.6 per cent year-on-year, mainly due to the full period contribution from Myer Centre Adelaide which was acquired in May last year.

STARHILL Global Reit Q4 revenues rose by 3.6 per cent year-on-year, mainly due to the full period contribution from Myer Centre Adelaide which was acquired in May last year.

The distribution per unit (DPU) inched up 1.4 per cent year-on-year to 5.18 Singapore cents, and the Q4 DPU remained stable at 1.29 cents.

There was a higher portfolio valuation as at June 30, driven mainly by revaluation gains for its Singapore and Australian properties.

Overall, the Reit's strong financial position was maintained, with an average debt maturity of about 3.1 years as at June 30, and there is no significant debt refinancing requirement until 2018.

The Reit fell by one cent or 1.2 per cent to close at S$0.80 on Friday.

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