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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Prudential shutters Hong Kong wealth unit Pulse
Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Google DeepMind unveils next generation of drug discovery AI model
AEM Holdings Q1 net profit tumbles 85% to S$2.4 million
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
JPMorgan, Nomura limit Segantii exposure on Hong Kong case