Lendlease Global Reit withdraws profit and distribution forecasts for FY20 and FY21

Singapore

LENDLEASE Global Commercial Reit (Lendlease Global Reit) on Thursday said that it is withdrawing its profit and distribution forecasts for the financial years ending June 30, 2020 and June 30, 2021 as set out in its initial public offering (IPO) prospectus. This is due to the the impact of the Covid-19 outbreak on its portfolio.

The manager said that due to the various measures enforced by the Singapore government in response to the outbreak, there will be an impact on 313@somerset's contribution to the Reit's distributable income from April 2020 onwards.

Lendlease Global Reit had initially forecasted a loss of S$15.6 million and a distrib…

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