The retention of 10% of distributable income, coupled with one off impairment of receivables of $2 million caused total distributions to decline by 7.7% to $30.5 million. As a result, distributions per unit (DPU) declined by 21.2% in 2HFY2023 to 1.15 cents.
On Jan 23, Sabana Industrial REIT's manager announced that the REIT had incurred costs of $1.37 million for the period up to the requisition of the EGM by Quarz Capital Asia, held on Aug 7.
An additional $3.27 million of expenses were incurred, relating to the internalisation process based on the resolutions passed at the EGM. Sabana REIT also had a $2 million impairment.
