Starhill Global Reit DPU down 6.3% in Q3

Disruptions in revenue owing to the mall repositioning in China, as well as lower contributions from Wisma Atria Retail, Singapore Offices and Myer Centre Adelaide dealt a hit to distribution per unit.
Disruptions in revenue owing to the mall repositioning in China, as well as lower contributions from Wisma Atria Retail, Singapore Offices and Myer Centre Adelaide dealt a hit to distribution per unit.PHOTO: ST FILE

SINGAPORE - Starhill Global Reit has posted a distribution per unit (DPU) of 1.18 cents in the third quarter, down 6.3 per cent from the same period a year ago.

Disruptions in revenue owing to the mall repositioning in China, as well as lower contributions from Wisma Atria Retail, Singapore Offices and Myer Centre Adelaide dealt a hit to DPU, although higher contributions from the master tenants in both Singapore and Malaysia, as well as David Jones Building, cushioned the effects somewhat.

Net property income was S$41.2 million in the three months to March 31, down 0.9 per cent from the same period a year ago, as gross revenue dipped 0.6 per cent to S$53.3 million.

Income available for distribution was S$27.1 million, down 3.1 per cent from a year ago.