SABANA Industrial Real Estate Investment Trust (Sabana Reit) : M1GU 0% posted a distribution per unit (DPU) of S$0.0115 for the half-year ended Dec 31, 2023, down 21.2 per cent from the year-ago period.

The sharp decline came as 10 per cent of total income available for distribution in FY2023 was retained for “prudent capital management”, in view of additional costs that would be incurred during the internalisation of the Reit manager, according to a bourse filing on Tuesday (Jan 23).

The manager also warned that further retention of distributable income may be required in FY2024 and FY2025.