Corporate digest

Sasseur Reit

SASSEUR Real Estate Investment Trust (Sasseur Reit), which owns outlet malls in China, posted a 19.4 per cent drop in its distribution per unit (DPU) to 1.334 Singapore cents for its first quarter ended March 31, 2020, from 1.656 Singapore cents a year ago.

The Reit's rental income under its entrusted management agreements (EMA) fell 10.1 per cent to S$27.6 million for the quarter, from S$30.7 million the year prior. The manager said rental income in the first quarter has been less impacted by disruptions from the Covid-19 pandemic compared to other malls and Reits, due to the EMA rental income model.