Starhill Global Reit Q2 DPU flat at 1.13 Singapore cents
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Singapore
STARHILL Global Real Estate Investment Trust's (SGREIT) distribution per unit for the second quarter ended Dec 31, 2019 was flat at 1.13 Singapore cents.
Revenue for the second quarter fell 4.5 per cent year on year to S$48.74 million, while net property income was 5.9 per cent lower at S$37.17 million, mainly due to the rental rebate extended to the master tenant during the asset enhancement period of Starhill Gallery in Malaysia, it said. The income disruption resulting from the planned asset enhancement will be largely mitigated by the Reit's manager receiving part of its base management fees in units.
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