With the partial distribution of divestment gain from OUE Bayfront of $4.6 million, 2HFY2022 amount to be distributed was $56.7 million, translating to a distribution per unit of 1.04 cents, down 24.1% y-o-y. The book for the distribution will close on Feb 7 and distribution will be made on Feb 28.
OUE Commercial REIT has reported higher net property income and revenue for 2HFY2022 ended Dec 31, 2022, as it paid out lower rental rebates with the pandemic easing.
However, after taking into account lower income support for OUE Downtown Office and higher interest expense, the 2HFY2022 amount available for distribution was 19.1% lower y-o-y at $52.1 million.
