The decline in distribution comes on the back of a 7.8% drop in gross revenue to $48.0 million in 1Q19/20, as a result of partial income disruption from the planned asset enhancement of Starhill Gallery in Malaysia, as well as the depreciation of the Australian dollar against the Singapore dollar.
SINGAPORE (Oct 31): Market watchers say Starhill Global Real Estate Investment Trust (SGREIT) lacks growth visibility, despite turning in a set of 1Q19/20 results that were in line with consensus expectations.
SGREIT posted distribution per unit (DPU) of 1.13 cents for the 1Q19/20 ended September, some 1.7% lower than DPU of 1.15 cents a year ago.
