Savings from pay cuts at Starhill Reit to be passed on to unitholders

Singapore

THE BOARD of directors and top executives at Starhill Global Reit (SGReit)'s manager will take pay cuts in light of the Covid-19 situation, the savings of which will be passed on to unitholders as part of a 10 per cent reduction in base management fees payable by SGReit for the next three months from April.

The board of directors will take a 20 per cent cut in directors' fees. The chief executive officer and chief financial officer will each take a pay cut of 10 per cent, while other senior staff will have their salary reduced by 5 per cent.