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Suntec Reit's Q1 payout comes in flat at 2.229 cents each

Published on Apr 24, 2014 9:39 PM

SUNTEC Real Estate Investment Trust (Suntec Reit) has reported a 1.2 per cent uptick in its distribution income to $50.9 million for the first quarter ended March 31.

Suntec Reit's distribution per unit (DPU) came in at 2.229 cents, just above the 2.228 cents announced in the same period a year ago.

Distributable income rose as the first phase of renovation and upgrading works at Suntec City mall was completed.

The re-opening of Suntec City after its first phase of upgrading works led to higher net property income and gross revenue over the period.

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