Gross revenue also fell 8.9% to $46.7 million, compared to the $51.3 million in the corresponding quarter last year. The decline is mainly due to the rental assistance extended to tenants in Singapore, Malaysia, and China, to help them tide over the impact of the Covid-19 pandemic. This is partially offset by the REIT Manager receiving part of its base management fee in units. The depreciation of the Australian dollar against the Singapore dollar also contributed to the decline in revenue.
SINGAPORE (Apr 28): The manager of Starhill Global Real Estate Investment Trust (SGREIT) has announced a distributable income of $24.0 million for 3QFY19/20 ended March, a decline of 4.1% compared to $25.0 million in the corresponding quarter last year.
Following SGREIT’s change of its distribution frequency to semi-annual distributions, there is no proposed distribution declared for 3QFY19/20. The next distribution will be for the six-month period from January 1 to June 30.
