Starhill Global Reit's H1 distribution drops 16.8%

Singapore

STARHILL Global Reit will pay out a distribution per unit (DPU) of 1.88 Singapore cents for the first half-year ended Dec 31, 2020, down 16.8 per cent from a year ago.

Net property income (NPI) fell 12.3 per cent to S$65 million, while gross revenue dipped 8.6 per cent to S$88.4 million, mainly due to rental assistance for its eligible tenants affected by the Covid-19 pandemic, including allowance for rental arrears and rebates for Singapore and Australia properties.