Corporate digest

OUE Commercial Reit

THE Reit has posted a distribution per unit of one Singapore cent for the half-year ended June 30, 40.5 per cent lower than a year ago. It said it had retained S$13.8 million of distribution to "preserve financial flexibility" amid the Covid-19 pandemic.

Net property income for Q2 increased 23.7 per cent on the year to S$50.4 million, due to the contribution from the merger with OUE Hospitality Trust last year, although this was partially offset by rental rebates to tenants. For H1, net property income thus rose 33.4 per cent y-o-y to S$112.5 million.