Starhill Reit's Q2 DPU up despite lower overseas revenue

STARHILL Global Reit yesterday posted a 5 per cent increase in distribution per unit (DPU) to 1.25 Singapore cents for its second quarter ended June 30.

On an annualised basis, this translates to a yield of 6.07 per cent. This is despite lower contribution from its overseas properties which led revenue to fall 1.4 per cent to S$48.4 million.

Net property income rose marginally by 0.2 per cent to S$39.2 million, however, as operating expenses for its Singapore, Japan and China properties fell.