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Suntec Reit's DPU grows 0.8% in Q2

Published on Jul 22, 2014 8:13 PM
 
Suntec City's Fountain of Wealth seen from a new eatery after the first phase of the shopping mall's total facelift in September 2013. The completion of part of the mall's upgrading gave a boost to distributions at Suntec Real Estate Investment Trust (Reit) in the second quarter. -- PHOTO: ST FILE 

SINGAPORE - The completion of part of Suntec City's upgrading gave a boost to distributions at Suntec Real Estate Investment Trust (Reit) in the second quarter.

The reit owns the Suntec City shopping mall and a 60.8 per cent stake in the Suntec Singapore Convention and Exhibition Centre.

Its distribution per unit (DPU) for the three months to June 30 was 2.266 cents, 0.8 per cent higher than in the preceding year.

Net property income rocketed 64.9 per cent to $46.1 million and income available for distribution climbed 11.3 per cent to $56.6 million for the period.

 
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