Far East H-Trust warns of challenging operating environment
The Reit manager is also expecting more hotels to open in 2016
Singapore
FAR East Hospitality Trust (Far East H-Trust) chalked up a slightly higher distribution of 1.08 Singapore cents in Q1FY16 but warned that the local hospitality sector continued to face challenges from the injection of supply from new hotels and weaker corporate demand.
The distribution per stapled security (DPSS) for the quarter ended March 31, 2016 was up from 1.07 cents in the corresponding quarter a year ago. The DPSS is payable May 31.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly