Adelaide, S'pore malls boost Starhill's Q1

Singapore

A FULL-quarter contribution from the recently-bought Myer Centre Adelaide and the stellar performance of its Singapore malls helped boost Starhill Global Reit's fiscal first-quarter financial results.

On Tuesday, it reported a 3.1 per cent increase in distribution per unit (DPU) to 1.31 Singapore cents for the three months ended Sept 30, 2015, up from 1.27 Singapore cents a year ago. This represented an annualised yield of 6.89 per cent based on the Reit's closing price of S$0.755 on Sept 30, said Starhill.