Suntec Reit Q2 DPU falls 4.6% as Suntec S'pore revenue drops 17%

Singapore

SUNTEC Real Estate Investment Trust (Suntec Reit) posted a 4.6 per cent drop in its distribution per unit (DPU) to 2.361 Singapore cents for the second quarter ended June 30, down from 2.474 cents in the year-ago period.

Net property income (NPI) shrank 7.2 per cent to S$56.4 million for the quarter, mostly due to the sinking fund contribution for Suntec City Office upgrading works amounting to S$3.2 million. This had no impact on distributable income.