Suntec Reit Q4 distribution per unit up at 2.577 cents

Singapore

DESPITE asset enhancement works for the remaking of Suntec City Phase 3, Suntec Real Estate Investment Trust has reported higher distribution income for the quarter ended Dec 31, 2014, compared to the same period a year ago.

Distribution income improved by 11 per cent to S$64.56 million for Q4 FY14, compared to S$58.18 million the year before, its manager, ARA Trust Management reported on Thursday. This was mainly attributable to the completion of Suntec City Phase 2, improved contribution from Suntec Singapore and income received from 177 Pacific Highway in North Sydney, Australia, which it had acquired in December 2013, said Yeo See Kiat, chief executive of ARA.