Starhill Global Reit's Q1 revenue down 10.3%

Singapore

STARHILL Global Real Estate Investment Trust's (SGReit) revenue for the first quarter ended Sept 30 fell 10.3 per cent to S$43.1 million, while its net property income (NPI) dropped 19.2 per cent to S$29.8 million.

The fall was mainly due to rental assistance doled out to eligible tenants affected by the pandemic, including allowance for rental arrears and rebates - which were mainly for its Australia properties. The variance in revenue and NPI was also partially offset by higher contributions from The Starhill and the appreciation of the Australian dollar against the Singapore dollar.