Retail, convention business lifts Suntec Reit's Q1 DPU by 0.3%

Singapore

SUNTEC Reit's Q1 distribution per unit (DPU) rose 0.3 per cent to 2.433 Singapore cents per unit, mainly driven by the its retail and convention business.

Total distributable income for the quarter came in at S$64.8 million, 4.8 per cent or S$3 million higher than the year-ago period.

Net property income rose 1.9 per cent to S$63 million from the preceding year, mainly attributable to higher contribution from its 60.8 per cent interest in Suntec Singapore Convention & Exhibition Centre (Suntec Sing…