SPH Reit grows Q1 distributable income by 3%
Its cutting of property operating expenses by 7 per cent helps lift net property income further
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Singapore
SINGAPORE-based mall investment trust SPH Reit posted a 3 per cent increase in distributable income for its first fiscal quarter as lower operating expenses uplifted a modest increase in revenue.
SPH Reit, whose sponsor, Singapore Press Holdings, owns The Business Times, said income available for distribution grew to S$36.4 million for the three months ended Nov 30, 2016. The trust is distributing 94 per cent of that, or S$34.2 million, representing a distribution per unit of 1.34 Singapore cents.
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