Higher taxes, cash retention lower Starhill's Q4 DPU
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Singapore
STRAIGHT-LINING rent adjustments, higher withholding taxes for Malaysia income and higher cash retention led Starhill Global Reit to report a lower distribution per unit (DPU) of 1.18 Singapore cents for its fourth quarter, less than the 1.29 Singapore cents that it paid out in the corresponding quarter a year ago.
Straight-lining rent adjustments refer to periods when its tenants are undergoing renovations and the Reit decides to grant them rent-free periods, so the annual rent is averaged over the remaining months. The latest reporting quarter did see the trust give some rent-free periods to renovating tenants.
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