The lower topline came despite improved contributions from the Singapore office portfolio and higher office occupancy in Australia, both of which were offset by lower contributions from the Singapore retail portfolio and the depreciation of the AUD.
SINGAPORE (Jan 29): The manager of Starhill Global REIT (SG REIT) has announced a distribution per unit (DPU) of 1.13 cents for 2Q19, 3.4% lower than its DPU of 1.17 cents a year ago due to lower net property income (NPI), higher interest costs and higher distributable income retained.
Gross revenue and NPI for the quarter fell 2.7% and 2.4% to $51 million and $39.5 million, respectively.
